The deal comprises transfer of client relationships and staff, it added. Existing branches in Mumbai, Delhi, Chennai and Bengaluru will also be retained by Sanctum, it said, adding it hopes to conclude the deal by March.
Switzerland's Union Bancaire Privee said in March it was buying the overseas business of British wealth manager Coutts from RBS, as part of the bank's drive to pull back from foreign markets and focus on UK retail and commercial banking.
Nearly everyone (97 percent) expects the Governor to leave the cash reserve balance requirements unchanged at 4 percent, while 55% expects repo rate to be hiked by 25 basis points.
The Reserve Bank is likely to reduce the short-term lending rate by 0.25 percentage points in its monetary policy on Friday, as per a survey conducted by RBS.
RBS India today said it expects some concrete measures from the Reserve Bank to ease the tight liquidity situation in the system.
The RBI has refused to give its approval for the purchase of RBS India’s retail and commercial assets by HSBC. The regulator has questioned RBS as to why they are doing the deal at all. It is for HSBC and RBS to now satisfy the regulator, reports CNBC-TV18's Gopika Gopakumar quoting sources.
Devesh Kumar, Head of Equities, RBS India is underweight on metals.
Tepid results from across sectors have kept the market in a range, shooing foreign investors from putting in money here. And the scene is unlikely to change anytime soon. In an interview on CNBC-TV18, Devesh Kumar, head of equities at RBS India said the market would be in shock from the results for the next two weeks.
On the sidelines of the RBS India-China Conference, Rahul Jain, resource and mining analyst at RBS India says steel companies may face margin pressure over the next six-nine months. "Raw materials are very high which is posing a challenge for companies like JSW Steel," says Jain.
Enter banking stocks, says Devesh Kumar, Head of Equities, RBS India.
In an interview with CNBC-TV18, Devesh Kumar, Head of Equities, RBS India said the market is going to remain rangebound.
There is no downside in oil & gas space from these levels, says Devesh Kumar, Head of Equities, RBS India.
Some upside in two wheelers space, says Devesh Kumar, Head of Equities, RBS India.
Speaking to CNBC-TV18, Devesh Kumar, Head of Equities at RBS India, said that the market will witness a slightly muted rally, which will continue for next three to six months. If any positive news comes in on oil front or inflation, it will prove as a positive trigger for the market.