Indian banks move wholesale operations home amid Iran US conflict
With the Iran-US conflict heating up in West Asia, some Indian banks aren't taking chances.
They've moved key wholesale operations to India and are running them remotely to keep things running smoothly and protect their teams.
The government has told banks to check risks, support staff, and tighten up emergency plans so business stays steady no matter what.
PNB relocates Dubai team to Delhi
Punjab National Bank (PNB) relocated its Dubai office team to Delhi after getting the green light from regulators.
PNB's managing director, Ashok Chandra, said the team was seamlessly replicating operations from Delhi.
Earlier this year, other lenders also brought staff back from branches in the UAE, Oman, and Qatar as part of these safety moves.
The government's crisis group is coordinating with banks and the Ministry of External Affairs to make sure everyone stays safe while essential banking services continue.