From the name of the bank , I would assume that this is wholely owned subsidiary of the US entity but it is formed under the laws of India. You may not have to file the form 8938 ( and certainly since India has agreement with the US on FATCA, "know your customer" would be in full swing ). But I would play it safe and file --- it costs nothing extra ( except perhaps a little time ) -- the penalties for misreading and not filing is extremely honrous. That is my opinion.
