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RBS India will complete the process of consolidating its retail and commercial banking business by the end of 2013.
The foreign bank had announced in November last that it will reshape its retail and commercial banking business in the country.
RBS India has started the process to limit its presence in eight major business hubs — namely Delhi-NCR, Mumbai, Chennai, Kolkata, Bangalore, Pune, Hyderabad and Vadodara — which will form the core of a revised and predominantly deposit-led general banking proposition for the RBS Group in India.
RBS will commence the consolidation activity with the closure of branches, namely, Agra, Jodhpur, Jalandhar, Kolhapur, Mangalore, Shastri Park (New Delhi) and Udaipur followed by consolidation or closure of the other branches that are not part of the eight business hubs, the bank said in a statement.
The restructuring will not impact RBS’ corporate and institutional business (markets and international banking) or its private banking businesses in India.
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