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RBS notifies customers about closure of India operation

rbsThe Royal Bank of Scotland (RBS) has officially informed its customers in India about the closure of all its 10 branches in the country and withdrawal of its retail and wealth management services. The bank issued notification to this effect on its website and said it is making alternate arrangements for their banking, wealth management and demat accounts on or before 31 August. It said its 6 India branches at Bengaluru, Hyderabad, Pune, Gurgaon, Noida and Vadodara would be shut from 1 October. The remaining four branches at Chennai, Kolkata, Mumbai and New Delhi will be closed in due course. The bank also said its private banking and wealth management business has been transferred to Sanctum Wealth Management with effect from 1 April.

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