HSBC gets competition panel’s nod for RBS banking business buy

Anti-monopoly watch god, Competition Commission of India (CCI), has given its nod to HSBC Bank acquiring the retail and commercial banking business of The Royal Bank of Scotland (RBS) in India. The CCI decision comes close on the heels of the Cabinet approving the Banking Law (Amendment) Bill. The Bill exempts all banking mergers and acquisitions from the scrutiny of the anti-competitive practices watchdog.