Royal Bank of Scotland to sell India businesses | GulfNews.com:
"The Royal Bank of Scotland Group has said it plans to sell some of its Indian assets, including its credit card and mortgage business, to a domestic bank as it disposes of more of its once sprawling empire.
RBS, now more than 80 percent owned by the British government following the 2008 global financial crisis, plans to sell its business banking, credit card business and mortgage loan portfolio to India’s Ratnakar Bank, the two banks said.
Ratnakar Bank is one of India’s smallest commercial banks but has fared well in recent years by selling stock to private equity funds."
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