Sberbank, Russia’s largest bank, has received official authorization from the Reserve Bank of India to set up an IT unit in Bangalore, India.

• “The newly established IT office in Bangalore will serve as Sberbank’s in-house Data Processing Center, catering to its Indian branch’s technological needs,” the statement said. 
• While Sberbank’s presence in India dates back to 2010 with an active branch in New Delhi, the Bangalore office will exclusively focus on information technologies advancement and innovation.
• Deputy Chairman of Sberbank’s Executive Board said, “Bangalore is often called the Silicon Valley of India, and it is symbolic that Sber has chosen that city for its international IT project.
• The Bangalore hub will not only handle the technological needs of our Indian branch but also develop and implement cutting-edge digital products for its clients. And in the long term, we plan to employ up to 200 IT specialists in our new unit.”