Federal Bank to open its first overseas branch in Dubai

Posted on:14 Nov 2016 18:07:03
Federal Bank to open its first overseas branch in Dubai
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.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs February 2018

17 FEBRUARY
NEWS
16 FEBRUARY
NEWS
15 FEBRUARY
NEWS

Current Affairs January 2018

31 JANUARY
NEWS
30 JANUARY
NEWS
29 JANUARY
NEWS
28 JANUARY
NEWS

Current Affairs December 2017

31 DECEMBER
NEWS
30 DECEMBER
NEWS
29 DECEMBER
NEWS
28 DECEMBER
NEWS