Sberbank was registered as a foreign portfolio investor with the approval of the regulatory body in India, Sberbank Deputy Chairman Anatoly Popov confirmed to socialbites.ca.
“Sberbank has indeed received a foreign portfolio investor (FPI) license approved by Indian regulator SEBI,” he said.
According to Popov, a license in India gives the bank the opportunity to participate in trading and invest in the developing financial market. He explained that Sber’s plans include investments in foreign currency, commodities and other assets.
Sberbank became the first Russian bank to receive a foreign portfolio investor license in India. The card appeared in the system of registered investors on the website of the National Securities Depository (NSDL). According to publicly disclosed information, the license was granted on October 9 for a period of three years.
At the same time, the Russian bank received an FPI license of the first category. It allows you to get tax benefits and subscribe to foreign derivatives based on Indian shares, among other things.
Previously Sber I transferred my ATMs for our own transactions.