DBS is set to acquire business units in India from Royal Bank of Scotland, according to a media report.

Singapore-headquartered DBS is reportedly poised to acquire Royal Bank of Scotland’s Indian onshore operations for about Rs1,000 crore (about $150 million), and the deal is set to be completed this week.

The transaction includes three main parts of RBS's India operations — a network of 10 branches, a corporate loan platform and debt capital market, the Economic Times (of India) reported. 

The banks declined to comment to WealthBriefingAsia when contacted about the matter yesterday.

Last year, RBS, in which the UK government still holds a majority stake after a bailout, spun off part of its non-UK wealth management business under the Coutts brand, selling units in Switzerland and Asia to Switzerland-headquartered Union Bancaire Privée. RBS has been pushing to recover to full profitability. 

DBS bought the Singapore-based private banking business of Societe Generale in 2014.