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RBI grants 12 new licences to foreign banks in 1998-99

The Reserve Bank of India has issued further five licences for the year 1998-99 for opening branches by foreign banks in India as under

Name of bank

Centre

1. Citibank N A

Ahmedabad

2. American Express Bank

Bangalore

3. ANZ Grindlays Bank PIc

Pune

4. Bank of Nova Scotia

Hyderabad

5. Standard Chartered Bank

Bangalore

The Reserve Bank of India had earlier during the year issued 7 licences which included two maiden branches of new foreign banks and 5 licences for additional branches of existing banks as follows

Maiden branches of new foreign banks

1. Morgan Guaranty Trust Company of New York, USA

Mumbai

2. KBC Bank NV. Belgium

Mumbai


Expansion by existing banks

1. Citibank N A

Hyderabad

2. ABN Amro Bank

Indore

3. Banque Nationale de Paris

Secunderabad

4. Bank of Ceylon

Coimbatore

5. Hong-kong & Shanghai Banking Corporation

Hyderabad

Alpana Killawala
General Manager

Press Release : 1998-99/1565

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