In a bid to increase the presence of foreign banks in the country, the Reserve Bank of India has issued the license to Netherlands based Rabobank.
Presently the banks is registered as a Non-Banking Finance Company (NFBC) in the country after the approval from Central Bank, it will be free to provide gamut of banking services in the Indian market that includes accepting deposits, deal in foreign exchange, domestic fixed income products and trade finance.
Member of the Rabobank Executive Board Group Sipko Schat said “India is a key country for Rabobank. We are now able to offer a broader range of products and services to our Dutch, Indian and international clients.”
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