US banks, though, face the problem of national sanctions against India following nuclear testing, and for the moment are not encouraged to develop new business in the country.
Many banks handle Indian work out of London as much as Asia.
ING Barings , acted in Dholpur and was also involved in several other power deals including the GVL plant. India is the primary focus of Toronto-Dominion 's Asian practice, where it has worked frequently alongside Bank of America . Bankers Trust was the fourth lead arranger for Reliance Petroleum. Of Japanese banks, Sanwa Bank is an arranger on the Vizag power project, and Sumitomo Bank , which opened a Mumbai office in 1997 and has since hired Manorama Sonmale from the State Bank of India to head the department, has signed memoranda of understanding with the government of Maharashtra to provide finance, advisory services and syndication in the state. Paribas has been involved in power deals, including Dhopur and Maharashtra.