.............."In view of the request received from Royal Bank of Scotland NV, India to surrender its authorisation for conducting PD business, Reserve Bank of India has cancelled the said authorisation of the bank with effect from December 2, 2013," the banking regulator said in a statement today. RBI had permitted RBS to carry out PD business in India in May, 2008. Consequent to the cancellation of authorisation, RBS will stop undertaking business as PD in government securities market.......
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