§ Mr. ChapmanTo ask the Chancellor of the Exchequer if he will make a statement about the status in the United Kingdom of the Punjab National Bank, the Union Bank of India and the Central Bank of India, following the closure of their branches in the United Kingdom.
§ Mr. LilleyThe Punjab National Bank, Central Bank of India and Union Bank of India announced at the beginning of this year that they would be running down their business in the United Kingdom with a view to closure in due course. Pending completion of this process, the three banks continue to be authorised institutions under the Banking Act 1987.