Foriegn banks like Standard Chartered, ANZ, Credit Suisse and Goldman Sachs etc. are showing keen interest in getting banking licenses in India. it is also being expected that the tough restrictions on the entry of foreign banks may be eased by the RBI. Entry of these banks means tough competition for existing banks in India. But it could also mean more complex financial products finding their way into Indian markets. It is hoped that RBI should adopt a strict approach when it comes to regulating the new comers.