Royal Bank of Scotland tells customers about closure of India operations

Chennai: Royal Bank of Scotland (RBS)
has informed its customers about the closure of all its 10 branches in India
and withdrawal of its retail and wealth management services.

The British bank told its customers
through its website to close their RBS accounts and make alternate arrangements
for their banking, wealth management and demat accounts on or before August 31.

According to RBS, its six India
branches -- Bengaluru, Hyderabad, Pune, Gurgaon, Noida and Vadodara -- would be
shut from October 1 onwards.

The remaining four branches --
Chennai, Kolkata, Mumbai and New Delhi -- will be closed in due course, the
bank said. The bank has also listed different
dates for closure of its various services.

According to RBS, its private banking
and wealth management business was transferred to Sanctum Wealth Management
Private Ltd. with effect from April 1.

--IANS