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Journalism of Courage
Royal Bank of Scotland RBS has said it will close 23 of its 31 branches in India by the end of the year to focus only on big cities.
As part of the strategic business decision,it RBS has started the process of consolidating its retail and commercial banking business to maintain a presence in eight major business hubs, a statement released by the bank said.
The bank,which had unsuccessfully tried selling its network to its peer from the foreign lending space HSBC,will have presence only in Delhi-NCR,Mumbai,Chennai,Kolkata,Bangalore,Pune,Hyderabad and Vadodara,it said.
Its branches at Agra,Jodhpur,Jalandhar,Kolhapur,Mangalore,Shastri Park New Delhi and Udaipur will be the first ones to be closed. Other branches include those at Tirupur,Salem,Lucknow,Moradabad,Nasik,Surat,Udaipur,Jodhpur,Panipat and Jalandhar,among others.
We8230; will ensure the smoothest possible transition for our customers, said Brijesh Mehra managing director and country head for international banking.
