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JPMorgan Chase & Co. has elevated two key leaders in India to managing director positions. 

Bhavin Shukla and Rahul Deora were both promoted, a JPMorgan India spokesperson confirmed. Shukla currently heads the India infrastructure advisory division from Mumbai, according to his LinkedIn profile, and is part of the investment banking team. Deora heads the markets team and is also based in Mumbai.

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The US bank has been reorganizing its Asia staff in recent weeks, including the appointment of new leaders in China. 

JPMorgan improved four places on Bloomberg’s India Equity Offerings league table to second position last year, behind Kotak Mahindra Bank Ltd. The bank’s global chief executive officer Jamie Dimon recently said that Indian Prime Minister Narendra Modi has done “an unbelievable job” running the country, citing uplifting 400 million people from poverty. 

--With assistance from Preeti Singh.

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