RBI okays Emirates NBD Bank PJSC’s subsidiary plan in India

The Reserve Bank of India has granted “in-principle” approval to Emirates NBD Bank PJSC, based in the UAE, to establish a wholly-owned subsidiary in India. This will be achieved through the conversion of its existing branches in Chennai, Gurugram, and Mumbai. The RBI will consider granting a banking business commencement license after the bank fulfills the stipulated conditions.

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