Credit Suisse, the second-largest bank in Switzerland, collapsed in March 2023 and was bought by rival UBS for about USD 3.3 billion
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The Reserve Bank of India has allowed UBS-acquired Credit Suisse to retain the banking license in its name in India, Reuters reported on Wednesday citing ET Now.
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Credit Suisse, the second-largest bank in Switzerland, collapsed in March 2023 and was bought by rival UBS for about USD 3.3 billion.
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The collapse was the culmination of several years of scandals and financial losses, including the collapse of two investment funds in which the bank was heavily involved.
(With agency inputs)
