As part of the reshuffle process, the UK based lender will shut down seven branch offices of its retail and small and medium enterprises business, which was initially announced in November last year, as reported by the Economic Times.
The bank will close branches in Agra, Jodhpur, Jalandhar, Kolhapur, Mangalore, Shastri Park (Delhi) and Udaipur during the first phase.
The lender, which currently manages 31 branches, further said that the branch network will be combined into eight major business hubs including Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad and Vadodara.
It is expected that the bank may divest some of its retail and commercial banking assets to domestic and international banks and the possible bidders for the asset include IndusInd Bank, Standard Chartered Bank and Axis Bank.
RBS India corporate and institutional business or its private banking businesses will not be affected from closure and restructuring of retail and commercial banking operations.
