Yes Bank in talks to buy RBS India units
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Yes Bank Ltd is in talks to buy the local retail and commercial banking operations of Royal Bank of Scotland Group Plc (RBS), a source with direct knowledge of the matter said on Tuesday.
A plan by RBS, majority owned by the UK government, to sell the Indian businesses to HSBC Holdings Plc fell through in November last year, more than two years after the two banks started negotiations.
Yes Bank, India's fourth largest private sector lender with assets of nearly $11 billion, is likely to start a due diligence on the RBS unit soon, said the source, declining to be named as he was not authorised to speak to the media.