Washington, January 26: India's largest lender SBI has received the US central bank's approval to set up a new branch in New York.
The approval for SBI comes nearly three months after ICICI Bank, largest private sector lender in the country, got approval to start its branch operation in New York.
"The proposed Jackson Heights branch (of SBI) would offer a range of banking products and services, including permissible deposit accounts and small business loans," the Federal Reserve said in an order issue late last night.
The branch would also undertake business of remittance, investment advisory and trade-related services, it said.
SBI maintains offices in 32 countries outside India and already has a branch in New York.
Besides, the Mumbai-based company has a branch in Chicago, an agency in California and a representative office in Washington.
The bank, which already had clearance from RBI for expanding its branch operation in New York, also operates a wholly-owned subsidiary from California.
Monday, January 28, 2008
SBI set up a new branch in New York.
Buy Stock for Short Term
Currently some blue chip compnay at lower level.So buy this stocks for medium to long term.
Buy below stocks
JP Hydro tgt : Rs 130
Gmr Infra tgt : Rs 300
Essar Oil tgt : Rs 350
Ispat Ltd. tgt : Rs 80
Gspl tgt : Rs 110
Religare tgt : Rs 800
Hindustan Oil Exploration Co. Ltd ( HOEC) tgt: Rs 170
Neyveli Lignite Corporation Limited tgt : Rs 240
Subscribe to:
Posts (Atom)
