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      Question

      The RBI granted in-principle approval to which foreign

      bank to set up a Wholly Owned Subsidiary (WOS) in India?Β 
      A Mitsubishi UFJ Financial Group Correct Answer Incorrect Answer
      B Mizuho Bank Correct Answer Incorrect Answer
      C Sumitomo Mitsui Banking Corporation Correct Answer Incorrect Answer
      D Nomura Bank Correct Answer Incorrect Answer
      E Shinhan Bank Correct Answer Incorrect Answer

      Solution

      The RBI granted in-principle approval to Sumitomo Mitsui Banking Corporation (SMBC), Japan, to set up a Wholly Owned Subsidiary (WOS) in India under the RBI (Setting Up of Wholly Owned Subsidiaries by Foreign Banks) Guidelines, 2025.Β 

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