Royal Bank of Scotland has said it will wind down its retail and commercial bank operations in India after a sale to HSBC fell through.
RBS said the agreement to sell the 31-branch operation, announced in July 2010, lapsed today.
The bank 82% owned by British taxpayers, is trimming its non-core assets and businesses.
In some cases this is to comply with European Commission terms for being bailed out by the government.
RBS said the Indian banks represented less than 1% of its remaining non-core assets.
