RBS to Exit India Private Banking Business in Management Buyout

Mumbai: Royal Bank of Scotland Group Plc said it is selling its Indian private banking unit to a company led by the head of the business, Shiv Gupta, as the British bank pulls back from some foreign markets to focus on UK retail and commercial banking. Gupta's company Sanctum Wealth Management will take over the RBS private banking unit's onshore clients and staff, the bank said in a statement on Thursday. Sanctum plans to retain al...