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Our Bureau

Mumbai, April 3

BBVA, a Spanish financial services group, has received the RBI approval to open a representative office in Mumbai. The representative office will have five staffers and will be managed by BBVA's Singapore branch. The bank's present business in India amounts to more than € 400 million (about Rs 23.1 crore). In 2006, the group had signed an agreement on money transfers with ICICI Bank.

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