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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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