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SBI and China’s Payment System
August 3 , 2019
1972 days
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- The State Bank of India’s (SBI) Shanghai branch is now connected to China’s National Advance Payment System (CNAPS).
- SBI is the only Indian bank to have obtained the license to do business in local currency and also inducted to the CNAPS by the People’s Bank of China (PBOC).
- CNAPS, launched in 2008 by People’s Bank of China (PBOC) provides real-time settlement services for all payments.
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