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India central bank allows Bank of China to offer banking services

The Reserve Bank of India said on Aug. 1 that it included Bank of China Ltd. and Jana Small Finance Bank Ltd. in its second schedule list of banks, allowing the two lenders to offer regular banking services such deposits and loans in the country.

The Indian central bank said in a separate same-day release that it removed National Australia Bank Ltd. from the list after the Australian bank ceased to be a banking company in India.

In addition, the central bank changed the name of Royal Bank of Scotland PLC to NatWest Markets PLC in the second schedule. RBS PLC's name change was part of Royal Bank of Scotland Group PLC's overhaul of its current structure and business model to comply with ring-fencing legislation that took effect Jan. 1.