Citigroup Inc, the largest US bank, has asked India to liberalise its financial services sector, saying it would help the country maintain and improve over eight per cent GDP growth.
Citigroup Chief Executive Officer Charles Prince, during a meeting with Minister of State for Commerce and Industry Ashwani Kumar at the recently concluded World Economic Forum meeting at Davos, said opening up the sector would give a boost to the Indian economy.
"The restrictive policies could choke the growth," Prince was quoted as saying by officials.
Foreign banks, including Citigroup, have been clamouring for opening more branches and sales outlets. However, Reserve Bank has followed a conservative policy in