Which regulatory body gave approval for Bank of Maharashtra’s new branch in GIFT City?
Reserve Bank of India (RBI)
Why in the news?
“Bank of Maharashtra Gets RBI Approval to Open Branch in GIFT City, Gujarat”
The Reserve Bank of India (RBI) approved Bank of Maharashtra’s plan to establish a branch in GIFT City, Gujarat. This decision is part of BoM’s strategy to enhance its offshore banking operations and expand its business by 25%.
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