The RBI has granted in-principle approval for the bank’s fourth India branch, aimed at strengthening corporate banking services.

JPMorgan Chase & Co. is set to expand its physical presence in India for the first time in almost ten years, after receiving in-principle approval from the Reserve Bank of India to open a new branch in Pune. This will become the global financial giant’s fourth branch in the country, adding to its existing locations in Mumbai and Bengaluru.

The move marks the bank’s first branch approval since 2016, when it was cleared to open three additional offices. While the new Pune branch has been approved at the preliminary level, full operations will begin only after all regulatory requirements laid out by the RBI are completed.

The Pune branch will focus on strengtheni

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