Private sector lender, Axis Bank has applied for approval of acceptance from Bank of England so as to permit it to open a branch in London, said S K Chakrabarti, executive director of the bank.
Chakrabarti said that the bank has already received permission from Reserve Bank of India in this regard.
Talking about overseas presence, the bank has branches in Dubai, Singapore and Hong Kong. It plans to widen its international presence, said Chakrabarti. He added that the bank plans to set up a branch in Abu Dhabi also.
He said, "this branch will showcase the bank's premium offerings under one room and offer a differentiated experience for the premium customers of the bank."
Uday Bhat, Vice President-circle head- Gujarat said that the bank is aiming at setting up 15 to 20 branches in the Saurashtra region as a part of financial inclusion plan of the Government of India.