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		State Bank of Mauritius
				State Bank of Mauritius (SBM) is the second largest bank in Mauritius with a market share of about 25% of domestic banking assets. It has 42 domestic branches and three branches in India. Banque SBM Madagascar, a fully owned subsidiary of SBM started banking operations in Madagascar in January 1998. The company operates from Antananarivo, the capital of Madagascar.
		In 1994, State Bank of Mauritius opened its first overseas branch in Mumbai. The Bank has 3 Branches in India comprising of Mumbai Branch which also serves as the Head- Office, the other two branches being at Hyderabad & Chennai respectively. The Bank has been very aggressive in its Corporate & Treasury Operations, though with changing times and Indian Economic Outlook, the focus is fast shifting to Retail and its allied activities.
		State Bank of Mauritius India Head Office 101, 1st floor, Raheja Centre Free Press Journal Marg Nariman Point Mumbai  400 021 Tel:  +91 22 2284 2969 Fax: +91 22 2284 2966 Email: Admin@sbm-india.com Website: www.sbmgroup.mu Banking Hours‎: Mon - Fri : 9.30am - 5.00pm‎ Swift Code : STCBINBX
	Foreign Banks like State Bank of Mauritius in India always brought an explanation about the prompt services to customers. After the set up foreign banks in India, the banking sector in India also become competitive and accretive. New rules announced by the Reserve Bank of India (RBI) for the foreign banks in India in Budget 2009 has put up great hopes among foreign banks which allows them to grow unfettered. Now foreign banks in India are permitted to set up local subsidiaries. The policy conveys that foreign banks in India may not acquire Indian ones (except for weak banks identified by the RBI, on its terms) and their Indian subsidiaries will not be able to open branches freely. Please see the list of Foreign banks in India till date.
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