The Competition Commission of India has given its approval to the acquisition of Royal Bank of Scotland Group’s India wealth management business by Sanctum Wealth.

In September, Royal Bank of Scotland (RBS) has signed an agreement to transfer the India private banking operations to Sanctum Wealth Management.

The deal comprises client relationships and staff transfer.

The CCI said in a tweet that it has approved the “acquisition of wealth management business of RBS by Sanctum Wealth”.

Read EquityPandit’s Technical Analysis Of Indian Stock Market