)
Bangalore-based public sector lender Canara Bank on Thursday said it has received approval to open a branch in New York.
R K Dubey, chairman and managing director said in a statement that the Board of Governors of the Federal Reserve System, Washington DC, USA, on December 13, 2013 approved the Bank's proposal to open the branch in New York, in a record 20 months' time after it filed the application with the Regulators.
"This is the fastest time within which any Indian Bank could secure the approval of US Regulators. The Bank is taking steps to hasten the process of opening the branch in New York and commence the operations expeditiously," he said.
