Current Affairs - Banking - Discussion

Federal Bank has obtained the regulatory nod from RBI (Reserve Bank of India) to open offices in Bahrain, Kuwait and Singapore. Federal Bank is waiting for local clearances to start operations. It already has representative offices in Abu Dhabi and Dubai. Federal Bank does not have any plans to increase its presence in India. It will focus on the digital alternatives to reach out to more customers. Federal bank will focus more on the unsecured lending segment, where it stands at Rs 380 crore currently.