While other lenders are paring down operations, J.P. Morgan seems to be in an expansion mode.The Reserve Bank of India (RBI) has allowed J.P. Morgan Chase to open three more branches in the country, the lender said on Friday which will enable the U.S-based bank provide better services to its clients in India and overseas, according to a top official. “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,” Kalpana Morparia, CEO, South & South East Asia, J.P. Morgan said. “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.”
The branches will be located at New Delhi, Bengaluru and Chennai.
At present, it serves its clients from its sole branch in Mumbai. While other lenders are paring down operations by closing branches, J.P. Morgan seems to be in an expansion mode.
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