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    Question

    Which entity has been granted 'in-principle' approval by

    the RBI to set up a Wholly Owned Subsidiary (WOS) in India?
    A Mizuho Bank Correct Answer Incorrect Answer
    B Sumitomo Mitsui Banking Corporation Correct Answer Incorrect Answer
    C Bank of Tokyo-Mitsubishi Correct Answer Incorrect Answer
    D SoftBank Financial Correct Answer Incorrect Answer
    E Nomura Bank Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India has granted 'in-principle' approval to Sumitomo Mitsui Banking Corporation (SMBC), Japan, to set up a Wholly Owned Subsidiary (WOS) in India. This move aligns with the RBI’s 2025 guidelines for the establishment of WOS by foreign banks.

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