Singapore’s DBS Group is negotiating to acquire Royal Bank of Scotland’s Indian onshore operations, says news reports. The banking group is said to be quoting a price of about Rs 1,000 crore for the assets. If the deal goes through, RBS will be fully exiting its Asian operations. The reports suggested that the Singapore bank is looking at the whole of RBS’ India operations – 10 branches, corporate loan platform and debt capital market. Earlier, Indian firm IDFC had looked at the business but it did not proceed with any negotiations as it felt there could be duplication in the asset portfolio of the bank. RBS had earlier sold its offshore Indian loan assets.
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