Russia’s Sberbank to set up IT unit in Bengaluru, to hire 200 specialists

Russia's Sberbank has received permission from the Reserve Bank of India to establish an IT unit in Bangalore. The new IT office will house Sberbank's in-house data processing center.

While Sber's India branch has been active in New Delhi since 2010 and offers a wide range of financial services, the Bangalore office will be fully focused on developing information technologies, Sberbank said in a statement.

In a statement, Sberbank's Executive Board deputy chairman Anatoly Popov said, "Bangalore is often called the Silicon Valley of India, and it is symbolic that Sber has chosen that city for its international IT project. The Bangalore hub will not only handle the technological needs of our Indian branch but also develop and implement new digital products for its clients. And in the longer term, we plan to employ up to 200 IT specialists in our new unit."