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Emirates NBD Invests USD 100 Million in India

Published on November 08, 2022
Current Context: The UAE-based Emirates NBD Bank announced an investment of USD 100 million in its operations in India.
Emirates NBD Invests USD 100 Million in India
  • The investment of USD 100 million is in addition to the Emirate NBD bank’s USD 300 million investments in India in the last 5 years.
  • Emirate NBD also launched its two new full-service branches in Chennai, Tamil Nadu, and Gurugram, Haryana.
  • The bank’s Group Head for International and Group Strategy, Neeraj Makin, said that the Emirates NBD was targeting the banking opportunities out of the growing trade between India and the UAE
  • Earlier this year, the Comprehensive Economic Partnership Agreement (CEPA) was signed between India and the UAE.
  • The objective of CEPA was to remove the trade barriers and to further boost non-oil trade from USD 60 billion to USD 100 billion.
  • Emirates NBD is among the largest banking groups in the Middle East and was established in 2007 with its headquarters in Dubai, UAE. The current CEO of the bank is Salah Amin.

Question:

Q.1 Recently the Emirates NBD Bank announced an investment of _____ in its operations in India.
a. USD 100 million
b. USD 200 million
c. USD 300 million
d. USD 400 million
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