ABN AMRO Transfers Diamond and Jewelry Activities in India to IndusInd Bank
April 12, 15
(IDEX Online News) – ABN AMRO is transferring its diamond and jewelry activities in India to IndusInd Bank Limited. ABN’s activities are conducted by Royal Bank of Scotland in India.
Under the terms of the agreement, which is subject to approval, ABN AMRO and IndusInd Bank have agreed to enter into a partner banking agreement to continue to cooperate in diamond and jewelry activities in India.
According to Reuters, RBS's India diamond and jewelry financing loan book is about 45 billion rupees ($721.7 million).