Federal Bank gets permission to have branch in DIFC
Published
Federal Bank has received the Reserve Bank of India’s permission to open its first international branch at the Dubai International Financial Centre. The bank said the proposed branch at Dubai will help the bank serve its NRI customers better. The bank has its representative office at Abu Dhabi that serves as a nerve center for NRI customers in the UAE. It also has an IFSC Banking Unit in Gujarat International Finance Tec-City in Gandhinagar. The bank is also proposing to expand its operations in six states outside Kerala where it plans to increase its market share. It has identified Maharashtra, Gujarat, Tamil Nadu, Delhi and Punjab and Karnataka to focus its activities.
