SYDNEY, March 4 (Reuters) - Australia and New Zealand Banking Group (ANZ) (ANZ.AX) has received in-principle approval to set up a branch in India, the second-fastest growing major economy, the bank said on Thursday.

Australia's fourth-largest lender said in a statement it hoped to set up a branch in the Indian financial capital of Mumbai in the next 12 months. (Reporting by Narayanan Somasundaram; Editing by Mark Bendeich)