Fact check

There is a message in circulation since 2018 that the Reserve bank of India has approved a license to the Bank of China to operate in India.

Ayupp Fact Check

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News CLAIM: There is a message in circulation since 2018 that the Reserve bank of India has approved a license to the Bank of China to operate in India.

BANK OF CHINA: Market Capital=$15860 Cr.i.e-10,88,000 Cr.  STATE BANK OF INDIA: Market Capital=2,29,000 Cr. BOC > 5×SBI & Modi Ji Granted license to Chinese Bank even when Indian Banks undergoing through enormous NPA pressure. आए थे लाल आंखें दिखाने, जाएंगे चीन का खाता खोलकर!

TRUTH & Verification: A viral social media post, showing a tweet from news agency ANI, claims that the RBI has issued a license to Bank of China to open its first branch in India now despite ‘Boycott China’ calls. The message shred in social media is not true.

As per chinabankingnews news dated 6th June 2020, The Reserve Bank of India (RBI) an­nounced that it would allow BOC to offer regular bank­ing services in India after issuing the Chinese state-owned lender with a domestic license, accord­ing to a report from The Eco­nomic Times from 4 July 2018.

This news is old and has nothing to do with the current border tension with India and China.

VERDICT:  True, but old news

Reference links: RBI grants a licence to Bank of China to set up a branch in India




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