RBI issues licence to bank of China to operate in India

[Mitron]

RBI grants licence to Bank of China to set up its first branch in India

 

The Reserve Bank of India has issued licence to Bank of China to launch operations in India, official sources said today.

Prime Minister Narendra Modi had made a commitment to Chinese President Xi Jinping to allow Bank of China to set up branches in India when they met on the sidelines of the SCO summit in Chinese city of Qingdao last month.

"The RBI has issued licence to Bank of China to set up its first branch in India. It was a commitment made by the Prime Minister to the President of China," said a source.

Bank of China is one of the very few state-owned commercial banks in China.

India and China have been focusing on expanding their economic ties notwithstanding differences on several sticky issues including on the boundary dispute.

After last year's Doklam standoff, both the countries have stepped up dialogue at various levels to reset the ties.

Meanwhile, the sources said Chinese Defence Minister Wei Fenghe is scheduled to visit India soon and both sides are in the process of finalising the dates.

 

https://www.businesstoday.in/sectors/banks/rbi-grants-licence-to-bank-of-china-to-set-up-branch-in-india/story/279898.html

[Mitron]

[megadheera]

Phalinchina CBN krushi

[Anta Assamey]

[Mitron]

37 minutes ago, megadheera said:

Phalinchina CBN krushi

 

14 minutes ago, Anta Assamey said:

 

40 minutes ago, Mitron said:

 

[raccharaju]

57 minutes ago, megadheera said:

Phalinchina CBN krushi

[Heroin]

[boeing747]

[libraguy86]

Btw chinking gadu mana desam la branch pedithe Enti use evariki use??

[megadheera]

Now we can start amaravathi to China direct flight. 

[kevinUsa]

amaravati to  beijing 

and first branch in  amaracvati 

[nokia123]

10 hours ago, megadheera said:

Phalinchina CBN krushi

[solman]

ee debba tho desi banks ani sanka nakipotayi lee ... already bodi gadi debba tho common people ki banks meda trust dobbesindhi.... ee china vallu digite inka 100% sanka naki potayi leee 

[Mitron]

13 minutes ago, solman said:

ee debba tho desi banks ani sanka nakipotayi lee ... already bodi gadi debba tho common people ki banks meda trust dobbesindhi.... ee china vallu digite inka 100% sanka naki potayi leee 

[Picheshwar]

https://www.bankofchina.com/in/en/aboutus/ab1/202005/t20200514_17854591.html

 

Mumbai holds the pride of being the wealthiest city in India, with the highest GDP of all the cities in South, West and the Central Asia. The city houses important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.

Bank of China has commenced its business in India by launching the first branch in Mumbai in June 2019. The India branch works on the international network of Bank of China across the globe, with a world class banking, professional strengths and a diversified platform of the Bank across various sectors. Operating strictly in compliance with local laws and regulations, Bank of China India Branch provides comprehensive business services in Corporate Banking, Treasury and Branch Banking.

Bank of China has always upheld the spirit of “pursuing excellence” throughout its hundred-year history, thereby building up a strong brand that is widely recognized within the industry and by its customers. Understanding the need to further motivate and strengthen economic engagement, we are ready to contribute our expertise to support India’s businesses and encourage cross-border investments between India and China.