NEW DELHI – India’s central bank has granted license to the Bank of China to operate its branch in Mumbai, the Reserve Bank of India (RBI) said on Thursday.
Prime Minister Narendra Modi had made a commitment to Chinese President Xi Jinping to allow the 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.
Chinese Ambassador in New Delhi Luo Zhaohui also shared his best wishes over the development.
https://twitter.com/China_Amb_India/status/1014792065002156032
He tweeted: “Glad to know that #BankofChina got the license to operate its branch in #Mumbai. Now #BankofChina is busy with preparation for the opening of the branch several months later. Good news & Congratulations!”
The Bank of China is one of the very few state-owned commercial banks in China, which provides a comprehensive range of financial services to customers.
