Category : Economy & Banking
 First foreign lender to get nod; DBS waiting in the wings Mauritius-based SBM Group has received Reserve Bank of India’s approval to operate in the country through a wholly-owned subsidiary route. It is the first foreign lender to receive such a licence after local incorporation was introduced in 2013. Singapore’s DBS Bank is another lender which is awaiting final approval from the RBI to convert its 12 branches into a wholly owned subsidiary. |
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Source- The Hindu
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