Which Indian private sector bank recently inaugurated its first branch in Singapore after receiving a wholesale banking license from the Monetary Authority of Singapore (MAS)?

ICICI Bank
Axis Bank
HDFC Bank
Kotak Mahindra Bank
Yes Bank

Correct answer: Kotak Mahindra Bank

Solution

Kotak Mahindra Bank inaugurated its first branch in Singapore after obtaining a wholesale banking license from MAS. This marked an important step in its international expansion strategy.

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