Royal Bank of Scotland is most likely to sell its Indian operations to HSBC. The sell off decision comes after almost a year of negotiaaions.

Apparently, HSBC would be buying only retail and SME operations of RBS and get some more branches.

The UK based bank is heard to be soon selling off its investment banking arm in Chile too. UK government owns 83% stake in the bank.

The bank is one of the largest foreign banks operating in India having a customer base of 1.3 million, 28 branches and 1,800 employees.

RBS has come to this decision of selling just after it had finished re branding itself after acquiring ABN AMRO Bank.

It is said that the deal between HSBC and RBS took time to reach conclusion as RBI was unwilling to let RBS give all of its Indian branches to HSBC.