SBM Bank in talks with RBI over supervisory concerns: Report

SBM Bank (India) is in talks with RBI to address "supervisory concerns" flagged by RBI while asking it to stop all remittance transactions, Reuters reported citing SBM Bank's email to a customer. "[We remain] open for business in all other areas," the email further read. SBM Bank was the first foreign bank to receive RBI's universal banking licence.