A PYMNTS Company

India: HSBC cleared to transfer banking assets

 |  June 20, 2014

HSBC has been approved to transfer its banking operations in India to Doha Bank, based in Qatar, according to reports.

The Competition Commission of India gave the green light to HSBC Oman Friday after finding the transaction would not harm competition. Among regulators’ chief concerns is the Reserve Bank of India’s recent approval to license Doha Bank to operate a branch in India, though the CCI notes that the operation has not yet begun.

Financial details of the deal were not reported.

Full content: Business Standard

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.