Federal Bank has received RBI’s approval to open offices in Bahrain, Kuwait and Singapore. It is now awaiting clearances from the regulators in these countries before setting up offices there. The bank has representative offices in Abu Dhabi and Dubai and its intention to open more such offices is in direct contrast with the trend now among Indian banks to cut down overseas offices. The bank’s MD and CEO Shyam Srinivasan confirmed the bank has received the approval for having representative offices in these countries. He did not give a timeline by when the bank would open the offices.
