RBI grants licence to Bank of China to set up branch in India
NEW DELHI: The Reserve Bank of India (RBI) has issued licence to Bank of China to launch operations in India, official sources said on Wednesday.
Prime Minister Narendra Modi had made a commitment to Chinese President to allow Bank of China to set up branches in India when they met on the sidelines of the SCO summit in Chinese city of Qingdao last month.
"The RBI has issued licence to Bank of China to set up its first branch in India. It was a commitment made by the Prime Minister to the President of China," said a source.
Bank of China is one of the very few state-owned commercial banks in China.
India and China have been focusing on expanding their economic ties notwithstanding differences on several sticky issues including on the boundary dispute.
After last year's Doklam standoff, both the countries have stepped up dialogue at various levels to reset the ties.
Meanwhile, the sources said Chinese Defence Minister Wei Fenghe is scheduled to visit India soon and both sides are in the process of finalising the dates.
原创翻译：三泰虎 http://jblasi.com/45482.html 译者：Joyceliu
Robin S-India-19 hours ago-Follow
What a shame! Modi becomes a traitor and selling India. As usual bakhts will clap even for this treason.
Tusarkanta-Bhubaneswar, Odisha.-17 hours ago-Follow
So BJP /RSS under Modiji Govt welcome China, the dragon....
Dinesh-19 hours ago-Follow
in return Indian bank SBI should be allowed to open branches in China.
njsanghviindore Sanghvi-19 hours ago-Follow
Will Swadeshi Jagaran Manch and RSS will oppose this Chinese bank branch operation in country, permitted by Modiji.?
Razzy-dUbAi-17 hours ago-Follow
how about asking d chinese PM to contest 2019 elections too???
kailash behera-17 hours ago-Follow
NOW WE CAN DEPOSIT OUR BLACK MONEY THERE..NO NEED TO GO TO SWISS..THANKS FEKUJI ..ANOTHER STROKE
Playpal-17 hours ago-Follow
Feku will now ask Bank of China to help with next demonetisation. They are masters in copying anything and can duplicate our 21 features impossible to copy rupee notes. Feku's make in India's another masterstroke.