The Royal Bank of Scotland has confirmed its exit from retail banking operations in India. The bank is having 10 branches in India which employ 650 people. Earlier in February 2015, the bank announced that it will shut down operations in the country as part of a global reshuffle to cut costs and improve returns for shareholders.
It has already started selling its outstanding loans in India. In March, Singapore based DBS Bank bought a Rs 1,000 crore loan portfolio from the bank as it decided to sell its business in parts rather than at one go. The bank had its headquarter in UK founded in 1727. Its main businesses include institutional and corporate banking business.
So let’s discuss some questions related to this post :
1. Name the bank which has confirmed its exit from retail banking operations in India ?
2. Where is the headquarter of RBS bank ?
Courtesy : The Hindu