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GE Budapest plans India bank foray |
The RBI is not comfortable with GE's plan to float a bank.
General Electric’s (GE) banking subsidiary in Hungary, Budapest Bank, is planning to approach the Reserve Bank of India (RBI) for a banking licence.
Budapest Bank would formally apply for a licence in the next couple of months, sources close to the development said. GE owns 98 per cent stake in Budapest Bank.
Source: www.business-standard.com
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29.08.2005
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