Federal Bank to open its first overseas branch in Dubai
Posted on:14 Nov 2016 18:07:03
Free Current Affairs to Your Email
14 November 2016 Current Affairs: Federal Bank has received Reserve Bank of India (RBI)'s permission to open its first international branch at the Dubai International Financial Centre.
The bank, in a statement, said the permission is subject to other approvals from the host regulator, Dubai Financial Services Authority.
The proposed branch at Dubai will help the Bank serve its Non-Resident clientele better, the statement added.
Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).
The private sector bank operates through a branch network of 1,252 branches and 1,524 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.37 Lakh Crore as at March 31, 2016.
FreshersLive - No.1 Job site in India. Here you can find latest 2018 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.