The Reserve Bank of India has granted permission to Russia’s largest lender Sberbank’s Indian branch to create an IT unit in Bengaluru, where it expects to employ up to 200 information technology specialists.
According to the company, the new IT office will house Sberbank’s in-house data processing centre.
On Friday, in a statement, the state-owned bank announced, “While Sberbank’s India branch has been functioning in New Delhi since 2010 and provides a wide range of financial services, the Bengaluru office will be entirely focused on developing information technologies”.
“The Bangalore (Bengaluru) hub will not only handle the technological demands of our Indian branch but also create and deploy new digital products for its clients”, said Anatoly Popov, Deputy Chairman of Sberbank’s Executive Board.
“In the long run, we hope to hire up to 200 IT specialists in our new unit”, he added.