UK-based, Standard Chartered Bank expects Reserve Bank of India's approval for opening 3 to 4 new branches in the country during the current fiscal.

The bank expects to receive licenses for the same. "Traditionally, we have been getting 3-4 (branch licence) every year so we expect it would be probably in that range (this year too)," said Mr Jaspal Bindra , CEO (Asia), Standard Chartered Bank.

"Every year, the RBI sanctions a few branches...we take them grandly. We hope its more (this time)," he added.

Currently the foreign lender has 90 branches spread across the country.

Mr Bindra said that India has an immense scope for growth and the bank would continue investing here even though the economy is facing a slowdown.

"We have been investing every year on capital, new branches, systems improvement, product launches, hiring more people every year. So on every facet we have been investing and the trend would continue," he said.

The main intention behind this decision is that the bank wants to increase its market share. "We want to grow at the rate we have been growing for the last two years," said Bindra.

Presently Standard Chartered Bank is the largest foreign bank in India.