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Photo: Bloomberg

Photo: Bloomberg

BS Web Team New Delhi
UBS needs RBI approval to operate Credit Suisse as a bank in India

Zurich-headquartered UBS, which is acquiring Credit Suisse in an all-share deal, will have to seek the Reserve Bank of India’s (RBI’s) approval to continue with Credit Suisse’s bank licence, informed sources familiar with the development.

This is because UBS surrendered its bank licence about a decade ago after the banking regulator denied its request to offer wealth management services.

Credit Suisse has a licence in India to operate as a foreign bank. Read more

UBS buy gives Credit Suisse India's employees a glimmer of

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First Published: Mar 21 2023 | 11:17 AM IST

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