HSBC is to almost double its branch network in India from 50 to 100 following its decision to shut down its private banking business targeted at the wealthy . HSBC India 's CEO , Stuart P Milne , said : " This move aims to position our retail business for the future , with the right mix of digital versus physical banking networks . It is believed that about 300 employees are likely to be affected out of the total employee base in India that stands around 33,000. Customer expectations are changing rapidly and we need to adapt accordingly . "
HSBC is to almost double its branch network in India from 50 to 100 following its decision to shut down its private banking business targeted at the wealthy . HSBC India 's CEO , Stuart P Milne , said : " This move aims to position our retail business for the future , with the right mix of digital versus physical banking networks . Customer expectations are changing rapidly and we need to adapt accordingly . "