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Deutsche Bank To Expand Its Indian Footstep

Harish Dhawan 16 September 2007

New Delhi: German multinational Deutsche Bank is looking to expand its footmark across major cities in India.

The bank has applied for authorization with the Reserve Bank of India for opening up five more branches in the country.

According to WTO obligations, RBI permits foreign banking institutions to open maximum of 20 branches a year.

The source said, “The bank has done exceedingly well since its re-entry into India two years back. To provide the much-needed visibility to their banking operations, it has applied for license with the RBI to open five more branches in India.”

Presently, the bank possesses 10 branches in India, and if they get RBI’s sanction, they will turn into the 5th biggest foreign bank in the country.

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