Question
Consider the following statements in regards to
Sberbank: 1) Sberbank is a government bank of Russia to get 1st FPI category 1 license from SEBI. 2) Sberbank’s India branch has been operating in New Delhi since 2020 3) Sberbank’s branch in India has been granted permission to set up an IT unit in Bangalore. Which of the following statements is incorrect?Solution
Sberbank’s branch in India has been granted permission by the Reserve Bank of India (RBI) to set up an IT unit in Bengaluru. The newly established IT office will serve as Sberbank’s in-house Data Processing Center. Sberbank’s India branch has been operating in New Delhi since 2010, offering a wide range of financial services, the new Bengaluru office will exclusively concentrate on developing information technologies.
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