Swarup further said that with rising income levels and accelerating urbanisation, India offers enormous opportunities for German companies to invest in manufacturing capacities to cater to both domestic and global markets

As of now, the FDI limit is 74 per cent in private sector banks compared with just 20 per cent in PSBs. Among the 12 PSBs, SBI has the highest FDI holding at 11.07 per cent, followed by Canara Bank at 10.55 per cent