Some Indian bank branches may face closure in UK
By Vaibhav Aggarwal
Sep 10, 2014
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Recently it has been reported that various branches of Indian bank may face closure in U.K. Because of the global crises in England the Bank of England's Prudential Regulatory Authority (PRA), responsible for supervising individual banks, stated that they may ask some of the Indian branches to shut down. Though the name of the banks has not been reveled but State bank of India and bank of India are expected to be amongst them.

In order to curb with this global crisis in the economy the Indian Banks branches may face closure over there. The Indian banks will either have to shut down their branches or they have to convert them completely from branch status to UK subsidiary.

It has been reported that if the bank has very high level of assurance" from the regulator in the parent bank's home country then they might go for the further trade without facing closure.

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