JPMorgan Set to Open First New India Branch in Nearly a Decade

JPMorgan Chase & Co. is set to open a new branch in India after nearly a decade, underscoring the Wall Street bank’s growing push into one of the world’s fastest-growing economies.

The lender has gotten in-principle approval from the Reserve Bank of India to establish its fourth branch in Pune, a city near Mumbai, the New York-based bank said in a statement on Thursday, confirming an earlier report by Bloomberg. It will offer a broad range of products and services, including trade finance, liquidity management and foreign-currency payments, according to the statement.

India’s domestic growth and increasing integration with the global ...