SBI, Shanghai becomes first Indian bank to link up with CNAPS

The State Bank of India’s (SBI) Shanghai branch is now connected to China’s National Advance Payment System (CNAPS).

SBI is the only Indian bank to have obtained the license to do business in local currency and also inducted to the CNAPS by the People’s Bank of China (PBOC). SBI Shanghai can also offer the real-time transfer of local funds within China by routing them through the PBOC. The CNAPS, launched in 2008 by People’s Bank of China (PBOC) provides real-time settlement services for all payments.

Static/Current Takeaways Important For RRB NTPC/IBPS RRB Main 2019:

  • Chairperson of SBI: Rajnish Kumar; Headquarter: Mumbai; Founded: 1 July 1955.

Source: The Economic Times

Find More Banking News Here

हिंदी में पढ़े

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

[adda247_lead_form]

Leave a comment

Your email address will not be published. Required fields are marked *