RBI allows Emirates NBD Bank, UAE to set up wholly owned India subsidiary
This story was originally published at 19:22 IST on 19 May 2025
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--RBI allows Emirates NBD Bank, UAE to set up wholly-owned India subsidiary
MUMBAI – The Reserve Bank of India has granted in-principle approval to Emirates NBD Bank PJSC, UAE, to set up a wholly owned subsidiary in India, the central bank said in a press release Monday.
"Emirates NBD Bank PJSC is currently carrying on banking business in India in branch mode through its branches located in Chennai, Gurugram and Mumbai. The in-principle approval has been granted to the bank for setting up a WOS (wholly owned subsidiary) through conversion of its existing branches in India," the release said. End
Reported by Kshipra Petkar
Edited by Deepshikha Bhardwaj
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