RBS to close Indian banking operations
Post Date : April 14, 2016 | 12:19 pm
Henny Sender and Simon Mundy in Mumbai
Royal Bank of Scotland is to close its banking operations in India having given up on efforts to find a buyer amid concerns about an extended regulatory approval process for a deal.
The UK bank in recent years has been steadily selling down non-core units of its Indian business as part of a wider retreat from the ill-fated global expansion that led to its bail out during the 2008 financial crisis.
