RBI allows J.P.Morgan to open three new branches in India

New Delhi: While other lenders are planning to curtail their operations, the United States based J.P.Morgan Chase, has decided to move into expansion mode. The lender has been allowed by the Reserve Bank of India (RBI) to open three more branches in the country.

According to the top banking officials, the permission given by the RBI will enable the US based bank to provide better services to its clients in India and Overseas.

Kalpana Morparia, CEO, South & South East Asia, J.P. Morgan said, “We are very excited with the overall growth that we see in India. India has been a large recipient of foreign direct investment which means more and more global MNCs are investing in India.”

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“And given the fact that we are a global bank and have a global platform of products and services to offer, these new branches will further deepen our banking platform,” stated the CEO.

The branches of Morgan will be located at New Delhi, Bengaluru and Chennai.

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