The Reserve Bank of India has said that the Chief Executive Officers of all foreign banks operating in the country would be held responsible for non-compliance of any regulatory and statutory banking norms. In a notification issued in Mumbai, the RBI said, the CEOs will be answerable for the audit process, review of inspection reports and their compliance. The notification comes amid reports of fraud in branches of leading foreign banks. Thirty-four foreign banks including global leaders like HSBC and Deutsche Bank are operating in India.