SBI to get RBI nod for Doha branch soon
Mumbai: India`s largest lender, State Bank
of India, expects to receive the Reserve Bank`s and Doha
government`s approval to set up a branch there by the first
week of December, a top SBI official said.
"We hope the permission will come by the first week of
next month. Currently, the proposal is under the consideration
of government and Reserve Bank of India," the SBI official
told PTI here.
As part of global expansion strategy, State Bank decided
to open a branch at the Qatar Financial Centre (QFC), Doha and
approached the regulator for necessary permissions three
Once RBI clears the proposal, SBI will approach the Doha
government authorities for permission and the bank expects to
start operations of the branch by March-April, the official
Initially, SBI plans to use the branch for wholesale
banking, loan syndication and corporate advisory businesses,
though later it will consider venturing into retail banking.
Doha has nearly 4 lakh Indian population and many Indian
corporates have operations in that country, the official said
More from India
More from World
More from Sports
More from Entertaiment
- Why is Akhilesh Yadav encouraging dishonesty for votes?
- Is Akhilesh Yadav seeking votes based on development made by Modi govt?
- UP polls: Polling for fifth phase of Assembly elections today
- UP polls: PM Modi addresses public rally in Mau
- Report: Are mobile smartphones more unhygienic than toilet seats?
- Virender Sehwag's reply to Kargil martyr's daughter has taken the Internet by storm
- Ind vs Aus: Mohammed Azharuddin says Jayant Yadav and Ishant Sharma should be replaced in next Test
- Indian doctor rescued from ISIS recounts horror, says 'they forced me to watch videos, shot me thrice'
- Gurmehar Kaur reacts to Virender Sehwag's tweet, says she is heart broken!
- WATCH: MS Dhoni rips apart bowlers to smash brilliant 129-run knock in Vijay Hazare Trophy