RBS to close down Indian operations
The Dollar Business Bureau After crucially examining the number of options for survival in India, the Royal Bank of Scotland, largest state-owned bank of Britain, has decided to shut down its operations in India. Excluding its back office which supports the global network, RBS decided to end the Indian operations due to losses. While confirming the news, the bank’s spokesperson confirmed that the closure of branches has already begun and customers are being informed about the shutdown. The retail banking branches will be closed in a phased manner. A spokesperson from the Bank revealed that the onshore loans portfolio have been sold. The exit of the bank from retail, corporate and institutional businesses has been planned in a phased manner. The bank started informing its ...
