New Delhi: JPMorgan Chase & Co. is preparing to open a new branch in India for the first time in almost ten years, signalling the US banking giant’s deepening interest in one of the world’s fastest-expanding major economies.
The Reserve Bank of India has granted the lender an in-principle nod to establish its fourth branch in Pune, according to reports.
The proposed JP Morgan branch will focus on servicing corporate clients and is expected to offer a wide range of products, including transaction banking services and term loans.
The move comes at a time when global banks are increasingly looking to scale up in India, attracted by robust economic growth, rising corporate activity and strong credit demand.
The country’s relatively stable macroeconomic environment has further boosted its appeal as a long-term market for international financial institutions.
Earlier this month, an official statement said that the new Banking Laws (Amendment) Act, 2025, notified recently by the government, is a step towards strengthening governance standards in the banking sector by ensuring uniformity in reporting by banks to the RBI, along with improved audit quality in public sector banks.
The act also enhances depositor and investor protection by promoting customer convenience through improved nomination facilities, according to the official explainer.
The maximum tenure of directors has been increased from 8 to 10 years. Tenure for directors in other banking companies remains unchanged. The new laws align co-operative banks with the 97th Constitutional Amendment, which mandates democratic governance and elevates their status in the country’s political and economic framework.
(IANS)
