Australia's Commonwealth Bank opens first Indian branch in Mumbai
Melbourne:Australia's second largest bank, the Commonwealth Bank of Australia (CBA), has opened its first branch in India's financial capital Mumbai. CBA said the Mumbai
branch would provide trade finance, remittance and foreign exchange services to
organisations trading between Australia and India , and to individuals making
remittances and investments. The branch would build a robust commercial banking
business to serve small and mid-market enterprises and corporates, The Australian
quoted the bank statement, as saying. CBA said it is the only Australian bank
to operate a full banking licence in India.
