Royal Bank of Canada (RBC) listed on both Toronto Stock Exchange and the New York Stock Exchange, is Canada's largest bank and has made its debut in the Indian market by opening its first representative office in Bandra-Kurla, which is in Mumbai, the financial hub of India being the second Canadian Bank to enter India.

RBC has adopted a three-pronged approach for India. First is to provide capital markets products and services including global debt funding to Indian banks and corporations. Second is to provide wealth management services for high net worth individuals. Third is to provide correspondent banking and trade finance services to trade finance services to Indian financial institutions.

According to Gordon M. Nixon, RBC President and Chief Executive Officer, the strong growth of the Indian economy presents huge opportunities. He said that RBC was now committed to expanding outside North America into areas where the Bank could show its competitive strength and so India was its natural choice for its strategy in Asia. The Bank's competitive strengths are in the areas of infrastructure and project finance, energy, metals and mining, structured products, currency and bond trading, and wealth management services. Beja Rodeck is the media director of the Bank and said that the Bank had no plans for a retail presence in the country.

RBC India, is headed by Akhauri Sinha, and is to lead the Bank's overall operations in the country, while Dipendarra J. Singh will lead RBC's wealth management business with a focus on high net worth individuals, and Vikas Jambotkar is to focus on providing RBC services to Indian financial institutions, as well as capital markets services to corporations.

India provides for the second highest Asian immigrant population in Canada after China and RBC was now well positioned to help them invest back into India's buoyant economy. Nixon also mentioned that Indo-Canadians have made and continue to make a huge contribution to the fabric of Canadian life and their presence and cosmopolitan imprint have been made in Toronto and Vancouver, profoundly. The Indian Diaspora forms an important and critical, link between India and Canada.