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BRANCH BANKING | Staff Reporter, India

Bank of China to open branch in India

Approval from the central bank is expected shortly.

India and China have agreed to allow Bank of China to open a branch in Mumbai, India, according to a report from The Telegraph India.

Also read: Bank of China Singaopre ties up with online retailer to roll out credit card 

Security clearances have already been given and a notification from the Reserve Bank of India is expected shortly.

BOC will be the second Chinese bank to secure a license to open an Indian branch following Industrial and Commercial Bank of China.

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