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Originally Posted by me283
OK, to put this in perspective, I know people who invest in property overseas. If they thought an opportunity were worth taking up in India, they would invest in property there. This usually necessitates opening an account in the country involved (certainly in cases where mortgages are involved, or services are required). Hence, someone in this situation would be discriminated against by Lloyds TSB.
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Well, actually they're being discriminated against by ICICICICICIC or whatever they're called, or more accurately the Indian banking reg's, rather than Lloyds. I have no doubt that Lloyds TSB would take the chance to make some cash out of this from whites, asians and blacks alike if they could. It makes no sense for Lloyds to bar people from this deal if there is money to be made from it.
I don't have a clue why Indian banking regs would want to prevent the establishment of offshore accounts, but perhaps it could be to do with wanting to try to get people to set up offices in the territory (job creation) or to prevent property prices being pushed up by relatively rich foreign investors buying things up. Or maybe the Indian Government is just racist.