Bank of America Corp. has received approval from India’s banking regulator to appoint Vikram Sahu as its chief executive officer for India, as the US lender looks to expand its presence in one of the world’s fastest-growing economies.

Sahu, who took over as country head earlier this year, now assumes the CEO title as well, according to an internal memo seen by Bloomberg. The Reserve Bank of India approved the appointment, as required under Indian regulations.

As CEO of the licensed banking entity, BANA India, Sahu will continue to sit on Bank of America’s Asia-Pacific executive committee and lead the India leadership team, the memo said. He will continue to report to Jin Su, the president for Asia-Pacific. A representative for the bank declined to comment, while the RBI did not immediate

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