Russia's largest lender Sberbank's branch in India has received permission from the Reserve Bank of India to establish an information technology unit in Bengaluru, where it plans to employ up to 200 IT specialists.
The new IT office would house Sberbank's in-house data processing centre, it said.
While Sberbank's India branch has been active in New Delhi since 2010 and offers a wide range of financial services, the Bengaluru office will be fully focused on developing information technologies, the state-owned bank said in a statement on Friday.
Anatoly Popov, Deputy Chairman of Sberbank's Executive Board, said: "The Bangalore (Bengaluru) hub will not only handle the technological needs of our Indian branch but also develop and implement new digital products for its clients. And in the longer term, we plan to employ up to 200 IT specialists in our new unit."
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