CCI approves Induslnd Bank's purchase of RBS's jewellery business
The Competition Commission of India (CCI) has approved Induslnd Bank's acquisition of the diamond and jewellery financing business of the Royal Bank of Scotland, which is based in India.  Whilst the size of the deal has not been disclosed, the loan book of the business is thought to be c. INR 45bn ($721.7mn)
NEW DELHI: The Competition Commission of India (CCI) on Wednesday approved IndusInd Bank 's acquisition of diamond and jewellery financing business of Royal Bank of Scotland ( RBS ) in India."The combination is not likely to have any adverse effect on the market. The commission approves IndusInd Bank's acquisition of gem and jewellery portfolio of Royal Bank of Scotland," said a CCI order.While the exact size of the deal was not disclosed, the RBS' jewellery business has a loan book of Rs 4,500 crore and related deposits. Hinduja promoted IndusInd bank already has a diamond and jewellery financing business of about Rs 1,500 crore.