HSBC to Shut Down India Private Banking Business

Mumbai: HSBC Holdings Plc is shutting its private banking unit in India, marking the exit of another foreign bank from the cut-throat wealth management business in Asia's third-largest economy. "After a strategic review of the global private banking operations in India, we have decided to close the business," an India spokesman said on Friday. "This marks further progress in the HSBC group strategy to simplify business and deliver s...