UBS needs RBI approval to operate Credit Suisse as a bank in India

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

Subrata Panda & Manojit Saha | Mumbai
Last Updated at March 20, 2023 22:32 IST

Photo: Bloomberg

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.

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