Sberbank obtains foreign portfolio investor license in India - deputy board chairman

MOSCOW. Oct 17 (Interfax) - The Securities and Exchange Board of India (SEBI) has issued a foreign portfolio investor (FPI) license to Sberbank .

"Sberbank has indeed received a foreign portfolio investor license, as approved by India's SEBI regulator. The obtained license allows trading and investing in one of the most dynamically developing financial markets in the world. This involves investments in forex, commodities, and other assets," Anatoly Popov, Sberbank's Deputy Executive Board Chairman, told reporters.

Sberbank has a branch in Mumbai and a branch in New Delhi, thus two overall in India. The bank is also setting up an IT branch in Bangalore.