Canara Bank to open New York branch

Canara Bank has received licence to open a branch in New York. According to R. K. Dubey, Chairman and Managing Director, Canara Bank, the Board of Governors of the US Federal Reserve has approved the proposal of the bank to open a branch. The bank, he said, could get the approval of US regulators in a record 20 months from date of filing the application. The bank is taking steps to hasten the process of opening the branch in New York and commence operations, he added.