Gazprombank seeks RBI approval for opening an office in Mumbai

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New Delhi, Oct 25 (PTI) Russia-based lender Gazprombank has sought approval from the Reserve Bank of India for opening a representative office in Mumbai.

The application of Gazprombank to open a representative office in India has been moved to Reserve Bank, which in turn has sought opinion from security agencies and other authorities, Commerce Ministry sources said.

RBI has also sought opinion of the Department of Economic Affairs, Research and Analysis Wing (RAW), Ministry of Home Affairs and other authorities, sources said.

Once all clearances are there, the sources said, it would be conveyed to the banking sector regulator.

Based on various inputs, the Reserve Bank could take decision on whether to allow Gazprombank to open its office in Mumbai or not, sources said.

Gazprombank was set up in 1990. Founded by the world&aposs largest gas producer and exporter Gazprom to provide banking services for gas industry enterprises.

Gazprombank as universal financial institution delivers a wide range of banking and investment services covering about 43,000 corporate and 2 million private clients.

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