04 July 2018

RBI Licences Bank of China To Operate In India

RBI Licences Bank of China To Operate In India


The Reserve Bank of India licensed Bank of China to operate in India. This decision comes as part of the commitment made by PM Modi to the Chinese leadership. Bank of China will now have operating offices in India. This will be the second Chinese bank to be operating in the country. 

As on 1 January, 2018 Industrial & Commercial Bank of China Ltd was operating in India along with 45 other foreign banks. The United Kingdom’s Standard Chartered has the highest, 100 branches in India as of now.

Source- The Quint

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • Urjit Patel- 24th Governor of RBI, Headquarters- Mumbai, Established on- 1st April 1935, in Kolkata.
  • Bank of China (BOC) headquarters in Beijing.
  • BOC was formally established in February 1912.
  • Chen Siqing is the Chairman of BOC.

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