--- title: "Which bank has recently shut down its operation in India?" description: "Which bank has recently shut down its operation in India?" author: "Shrikant Mishra" published: 2019-05-12 canonical: https://answers.mindstick.com/qa/52092/which-bank-has-recently-shut-down-its-operation-in-india category: "general knowledge" tags: ["general knowledge", "banking"] reading_time: 2 minutes --- # Which bank has recently shut down its operation in India? Which bank has recently [shut down](https://yourviews.mindstick.com/story/3374/why-omegle-shut-down-in-2023) its [operation](https://yourviews.mindstick.com/view/83916/why-is-it-necessary-to-sterilize-operation-theater) in India? ## Answers ### Answer by UTKARSHA SINGHROUL The **Scottish bank “Royal Bank of Scotland” has shut down its operation in [India](https://answers.mindstick.com/qa/62205/who-brought-green-revolution-in-india)**. In this process, RBS has **closed down all its across locations in India and will now operate from a single branch in [Mumbai](https://answers.mindstick.com/qa/48651/who-is-the-writer-of-the-black-tornado-the-three-sieges-of-mumbai-26-11).** ![Which bank has recently shut down its operation in India?](https://answers.mindstick.com/questionanswer/4bebf67f-df6c-47e6-9f8d-1a8feccd08c0/images/98cb6f65-6160-4a4d-b69c-c69bea0c9adc.jpeg)\ \ The **only branch of Royal Bank of Scotland in Mumbai has been left to handle any residual queries if its [customers](https://yourviews.mindstick.com/view/288/school-education-is-a-market-where-parents-are-customers)**. However, the closing date of the Mumbai branch is not yet finalized. In **February 2015, the bank has made the announcement that it will shut down its operations in the country due to global reshuffle and to cut costs and improve the returns of its [shareholders](https://answers.mindstick.com/qa/39919/when-steve-jobs-introduced-the-macintosh-computer-at-apple-s-annual-shareholders-meeting-on-january-24-1984-what-words-did-the-computer-first-say-with-the-aid-of-a-voice-synthesizer).** \ Earlier in October 2015, the Royal Bank of Scotland in India had sold $1 billion of external commercial borrowings (ECBs) of Indian companies to the National Bank of Abu Dhabi (NBAD). RBS has less than 400 [employees](https://answers.mindstick.com/qa/32096/which-union-minister-has-launched-e-hrms-for-central-government-employees-to-access-all-service-details) across operations in India, and the authorities are committed to providing employees required support and will ensure that they are treated in a fair and transparent manner in line with RBS’s principles and local policies. \ As it has been said that, the move of the bank to **shut down India’s operation is part of RBS’s global plan in order to reduce its [International](https://yourviews.mindstick.com/view/362/world-s-best-international-airport) Operations to 13 countries from the existing 38 countries.** \ The **RBS Group is a large International [Banking](https://answers.mindstick.com/qa/39737/what-is-the-latest-innovation-in-banking-technology) and Financial Services Institute**. Having its **headquarters at Edinburgh, [Scotland](https://answers.mindstick.com/qa/39973/which-country-has-a-more-beautiful-nature-switzerland-or-scotland) in the United Kingdom of Great Britain**. The **RBS group serves over 30 million customers in the United Kingdom, [Europe](https://answers.mindstick.com/qa/41774/how-did-the-transcontinental-railroad-differ-from-railroads-in-europe), the Middle East, America, and Asian countries**. The **RBS group was founded about 292 years ago in the year 1727**. The main business of the Royal Bank of Scotland Group includes **Institutional and [Corporate](https://answers.mindstick.com/qa/49606/which-is-our-national-language-and-why-there-is-too-much-discrimination-between-english-speaking-mass-and-hindi-speaking-mass-in-corporate-sector) Banking Business.** --- Original Source: https://answers.mindstick.com/qa/52092/which-bank-has-recently-shut-down-its-operation-in-india Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.