Liberalization of international trade in financial services is one of the important aspects of negotiations on trade in services as a part of the General Agreement on Trade in Services (GATS), which mainly depends on the multilateral negotiations with WTO members. In order to have meaningful negotiations under GATS, especially under the financial sector, the availability of comparable data at international level is a prerequisite. Accordingly, the Reserve Bank explored the availability of statistical information on international trade in banking services in India and concluded that though some data/indicators on trade in banking services are available, these are scattered across data sources and are not adequate in nature. RBI had thus set up a Technical Group on Statistics for International Trade in Banking Services (TGSITBS) with members from the Ministry of Finance, Ministry of Commerce & Industry, Govt. of India and various other departments of RBI. The Technical Group has since submitted its report which is now placed on its website (www.rbi.org.in) for wider dissemination and feedback.

Foreign bank branches in India and Indian Banks having international presence and other users of the data may offer their comments/suggestions on the report to the Officer-in-Charge, Department of Statistical Analysis and Computer Services, Bandra-Kurla Complex, Reserve Bank of India, Mumbai 400 051 or fax the same to 022-26570848 or
e-mail within one month.

The Reserve Bank will examine the views/suggestions for further improving and strengthening the compilation of statistical data on international trade in banking services.

Ajit Prasad
Manager