SBI gets approval to open 25 branches

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Mumbai, Mar 25 (UNI) India's largest lender, State Bank of India today said the Singapore regulator - Monetary Authority of Singapore (MAS) - has approved its proposal of setting up 25 branches there.

The Singapore regulator has accorded in-principle approval for a full bank licence with Qualifying Full Bank (QFB) privileges to SBI.

This would enable the Bank to establish upto 25 branches there including ATMs and offer full range of financial services, SBI said.

According to QFB status, SBI makes it as the first Indian bank to get such privilege, the Bank added.


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