Current Affairs - Banking - Discussion
Discussion Forum : Banking - Latest Current Affairs (Q.No. 1696)
1696.
Which bank gets RBI approval for subsidiary?
Answer: Option
Explanation:
Mauritius based SBM group granted a license by Reserve Bank of India to operate SBM Bank (India) Limited through Wholly Owned Subsidiary (WOS) mode under the Banking Regulation Act, 1949 with effect from December 1, 2018. Now at present SBM operate its branches in Mumbai, Chennai, Hyderabad, and Ramachandrapuram since 1994. It plans to open six new branches in Delhi, Bangalore, Kolkata, Pune, Ahmedabad, and Jaipur by next year.
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