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BOB to open OBU in Singapore

NEW DELHI: Bank of Baroda will open an offshore banking unit (OBU) in Singapore on September 19 and said talks were in advanced stage for floating a life insurance joint venture and roping in strategic partners in credit card and asset management businesses. ``The OBU in Singapore will be inaugurated on September 19 by the Finance Minister, P. Chidambaram,'' Bank of Baroda Chairman, A. K. Khandelwal, said after the launch of an internet banking initiative here.

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