Does America allow foreign banks? Name one country which allows foreign banks? There are just couple of ICICI branches in US that too only when they bought billions of subprime loan which became zero.
I say yank even 26% foreign equity from Indian banks. India does not need 'expertise' of US banks.
US banks are ALL INSOLVENT--all of them. They need trillions of dollars of bail out. You want Indian banks to become like that?
