Maharashtra Chief Minister Devendra Fadnavis has asked the Union Finance Ministry to resolve technical issues that are delaying approvals to Central Bank of China to open a branch in Mumbai. A senior official in the CMO said that Fadnavis recently wrote a letter to Minster of State for Finance Jayant Sinha, in this regard. The Chinese bank has been awaiting for licence for over a year to open a branch in the city.China's President Xi Jinping, during his visit to India in September last year, had expressed his willingness to start a branch of Central Bank of China in Mumbai. The Indian government had then replied in positive, the official said, on condition of anonymity. The Central Bank of China had a branch in Mumbai in 1980s which was later closed down as it did not generate sufficient business, the official said.
News On AIR | October 16, 2015 11:37 AM
Central Bank of China awaits nod to set up branch in Mumbai