CCI nod to IndusInd Bank's acquisition of jewellery business of RBS

The Competition Commission of India (CCI) has approved IndusInd Bank's acquisition of diamond and jewellery financing business of Royal Bank of Scotland (RBS) in India, says a report. CCI order stated that 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. However, 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, adds a report.