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Originally Posted by Chris T
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.
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I wonder if this will create anything like the backlash that Barclays suffered regarding South Africa a few years back... I'm not saying for one second that the two issues are identical, just wondering rhetorically.