US Banks to Lean on India Hubs as Trump Imposes Visa Fees (1)

Wall Street banks are set to rely more on their Indian business support centers following President Donald Trump’s shock move to impose $100,000 feeson new applications to the widely used H-1B visa program.

US lenders including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc.are among the biggest employers of India’s so-called global capability centers, which handle operations from trading support and risk management to tech assistance. Staffed with software engineers, quants and accounting specialists, the centers offer low-cost services while giving firms access to skilled talent not readily available in their home markets. ...