Just out of curiosity, I checked out where some of Indian banks keep their servers (Web server). List looks like (in no perticular order):
1. SIFY
2. Reliance
3. Unknown ISP
4. Net magic soltions
5. Their own net block (only few of them :angry: )
6. Server out of India (Believe me I am not drunk)
Compare this with foreign banls working in India. Most have net block in Indian IP range and have their Own Datacenter (In India).
For obvious reasons, I am not going to put actual list here. But check their web erver's IP and check its net-name at www.apnic.net.