ANZ confirms India licence 05 March 2010 5:34PM Ian Rogers After a two-year wait, ANZ yesterday said it received in-principle approval for a foreign bank licence in India from local regulators.ANZ plans to open a branch in Mumbai within 12 months, with the location of this branch also yet to be formally approved.Alex Thursby, ANZ's CEO for Asia Pacific, Europe and America, told The Australian the Mumbai branch will be earning $100 million in pre-tax profit in three to four years.Commonwealth Bank also recently received approval for a branch in India.ANZ, meanwhile, received clearance from the bank regulator in Taiwan for the transfer of the business of RBA in that country. ANZ will take ownership of these businesses from April 17.