RBS To Sell India Assets To Ratnakar Bank

News: Edinburgh-based Royal Bank of Scotland (RBS) has agreed to sell a number of its units in India to Kolhapur-based Ratnakar Bank , Business Standard reports. Under the deal RBS will dispose of its credit card operation, mortgage loan portfolio and business banking unit in the country, although the latter includes operations related to smaller companies. The assets include around 120,000 retail customers, while Ratnakar Bank will also absorb RBS employees related to the relevant units.

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Geography: India

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