Russia's Sberbank establishes major IT unit in Bengaluru

The Reserve Bank of India (RBI) has authorized the establishment of a major IT unit in Bengaluru by Sberbank. This branch of the Russian bank will develop and implement new digital products and cater to the technological needs of the Indian branch. The Bengaluru IT office will act as Sberbank's in-house Data Processing Center. The city of Bengaluru, known as the "Silicon Valley of India," is a leading scientific and industrial hub specializing in aerospace, engineering, electronics, and IT product development. Sberbank plans to employ up to 200 IT professionals, underlining its commitment to regional growth and job creation.

Important Points to remember:

  1. Sberbank, a leading global financial institution and Russia's largest bank, is setting up an IT unit in the Indian city of Bengaluru.
  2. This operation was approved by Reserve Bank of India (RBI).
  3. The Bengaluru branch will focus on developing and implementing new digital technologies.
  4. The new IT unit in Bengaluru will act as an internal Data Processing Center for Sberbank.
  5. Sberbank plans to employ around 200 IT professionals in this unit, promoting regional growth and job opportunities.