The lender has received in-principle approval from the Reserve Bank of India to set up its fourth branch in Pune, a city near Mumbai, the people said. They asked not to be identified because the information is not yet public. JPMorgan’s new location will focus on corporate clients and offer a full suite of products from transaction banking to term loans, the people said.
A JPMorgan spokesperson confirmed that the company has received regulatory approval in principle. The RBI did not immediately respond to an email seeking comment.
Foreign banks are being attracted to expand in India, lured by rapid economic expansion, strong credit demand and deepening business activity. The country’s stable macro environment has further increased the country’s attractiveness to global lenders.
JPMorgan was last cleared to open offices in India in 2016, when it was given the green light to set up shop in three locations.
It has since expanded its commercial banking operations in the country to serve domestic mid-cap companies and opened a new campus, its website said. The New York-based company’s operations in India span wealth management to investment banking.
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Published on December 11, 2025
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