HSBC closing down India retail brokerage business

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

Part of its actions to exit noncore businesses globally, HSBC (HBC -0.1%) is closing down HSBC InvestDirect Securities (India). Opening of new accounts will stop immediately and existing clients will be notified of the discontinuation of service. The number of jobs affected hasn't been disclosed.

The bank will continue to invest in a range of other financial services in India.