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Our Bureau

Mumbai, Oct. 19

AIG Capital India Ltd has received regulatory approval from the Reserve Bank of India to operate as a wholly owned non-banking finance company (NBFC) of American International Group, Inc. This will allow AIG Capital India to launch any of the 19 permitted financial services in India.

Mr Sunil Mehta, Country Head & CEO, said: "We are committed to building a robust asset management and consumer finance franchise in India. We believe that the Indian financial services sector offers strong growth potential, which we are poised to develop and grow."

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