JPMorgan Chase & Co is planning to open a new branch in India after nearly a decade.
Sources told Bloomberg that the bank has received in-principle approval from the RBI to establish its fourth branch.
The new branch will be located in Pune.
JPMorgan Chase & Co is preparing to open a new branch in India for the first time in nearly ten years, underscoring the global banking giant’s growing confidence in one of the world’s fastest-expanding major economies, Bloomberg reported citing sources.
According to these sources familiar with the development, the bank has received in-principle approval from the Reserve Bank of India (RBI) to set up its fourth branch in Pune, a bustling business hub located close to Mumbai.
1 December 2025
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The proposed branch will focus on serving corporate clients and is expected to offer a full range of services, from transaction banking to term lending as JPMorgan deepens its presence in the country’s financial ecosystem.
A spokesperson for JPMorgan confirmed to Bloomberg about the RBI’s preliminary approval, though the apex bank has yet to comment on the matter publicly.
This move reflects a broader trend among global lenders, many of whom are increasingly drawn to India’s resilient economic fundamentals, rising credit demand, and expanding corporate activity.
As of 2025, there are 44 foreign banks operating in India under the regulation of the Reserve Bank of India, including major players such as HSBC, Standard Chartered, Citibank, DBS Bank, Deutsche Bank, Barclays, and ICBC.
For foreign banks navigating global uncertainty, India’s stable macroeconomic environment has emerged as a strong pull factor.
JPMorgan’s last major expansion wave in India came in 2016, when the bank secured approval to open branches in Mumbai, Bengaluru, and Hyderabad.
Since then, the institution has steadily broadened its operations. Its website notes that the firm has expanded services for domestic mid-cap companies through its commercial banking arm and invested in new facilities, including a major corporate campus.
The Wall Street lender already has a significant footprint in India across asset management, investment banking, and technology operations.
The planned Pune branch marks another step in JPMorgan’s long-term strategy to tap into India’s growing financial market and deepen its ties with local and multinational clients operating in the region.
If fully approved, the new branch would not only widen JPMorgan’s presence but also signal increasing global recognition of India’s economic momentum at a time when many markets are slowing.
