ABN Amro has initiated the process of re-branding its retail branches as RBS after receiving the Reserve Bank of India's (RBI's) approval for the same.
Dutch banking major ABN Amro said on Friday that it was looking at all possible options including acquiring a private bank and setting up a subsidiary to increase its presence in India.
The Netherlands-based ABN Amro Bank NV has identified India as one of the six key markets for its working capital services.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
Global financial major Citigroup on Wednesday offloaded shares of 22 domestic companies, including 17 Sensex stocks like Reliance Industries and ICICI Bank, in block deals valued at Rs 231.42 crore (Rs 2.31 billion).
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
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