HSBC to shut down half of its branches in India, 300 Jobs to go

UK based banking giant, HSBC Holding Plc stated that it plans to close 24 branches in India. The decision comes after a strategic review of its retail banking and wealth management business showed customers are increasingly opting for digital banking services. This decision will impact around 10 % of the company’s retail customer base and lead to 300 jobs losses.

Presently, HSBC employs over 33,000 people in the country. But now the bank would consolidate from 50 branches across 29 cities to 26 branches across 14 cities, and the closures will take place gradually over the next few months.

So now let’s discuss some questions related to this post :
1. Name the bank which has announced that it will shut down half of its branches in India recently ?
2. Where is the headquarter of HSBC bank ?

Courtesy : Business Standard

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