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RBI Issued Licence To Bank Of China: Details
Reserve Bank of India Granted Licence To Bank Of China: Details, About
The Reserve Bank of India has issued the license to Bank of China to launch operations in India.
Now with this, the Bank of China becomes the second Chinese bank after the Industrial and Commercial Bank of China to have a branch in India.
The decision came after a commitment made by the Prime Minister Narendra Modi to the President of China, Xi Jinping that India will allow Bank of China to set up branches in India when they met on the sidelines of the SCO summit in the Chinese city of Qingdao in June 2018.
Bank of China
Bank of China is one of the four biggest state-owned commercial banks in China. It was founded in the year 1912 in Beijing, China.
Bank of China serves its banking services worldwide. It opened its first branch in South Asia in Pakistan’s Karachi in 2017.
At present, Bank of China's President and Chairman of the board is Chen Siqing,
