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Yes, IndusInd bank in talks to purchase RBS India banking businesses

Yes Bank and IndusInd Bank are engaged in discussions with the UK-based RBS to acquire its Indian retail and commercial banking operations.

Sources familiar with the matter was quoted by The Economics Times as saying, "A meeting with possible buyers concluded last week. Yes Bank and IndusInd Bank have shown interest."

Further terms of the transaction are awaited, as the deal is still in primary stages.

The UK-government majority owned lender failed to close the deal involving sale of its India retail banking operations with HSBC last year.

In November 2012, HSBC called off the deal, following Reserve Bank of India’s unwillingness to allow RBS to dispose of branch network in full.

RBS manages 31 branches and serves 400,000 customers in India. At the end of March 2010, the price of the retail and commercial banking assets of RBS in India was estimated at approximately $1.8bn.