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3 foreign banks applied for wholly-owned subsidiary

9sept20151ABN Amro, DBS and the State Bank of Mauritius have applied for wholly-owned subsidiaries in India, RBI deputy governor R Gandhi said. According to him, Reserve Bank had decided to grant wholly-owned subsidiaries to banks, which would give them almost national bank treatment in country. Gandhi was talking at 11th MR Pai Memorial Award ceremony 2015.

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