Sidharth Rath has taken over as the Managing Director & CEO of State Bank of Mauritius. Before joining SBM Bank (India), Rath was with Axis Bank as Group Executive and Head of Corporate, Transaction Banking and International Banking.

SBM Bank (India) said it has been granted licence by the RBI to carry on business as a scheduled commercial bank under the Banking Regulation Act, 1949, with effect from December 1. It will provide universal banking services, with focus on wholesale banking, trade finance, capital markets and retail banking.

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