ROYAL Bank of Scotland's disposal programme received another setback after a deal to sell an Indian business to HSBC fell through two years after it was agreed, sending the bank's shares down 1%.
Taxpayer-controlled RBS is now to wind down the operation instead.
The news follows an even bigger blow when Santander pulled out of an arrangement to acquire 316 RBS branches in the UK in October.
RBS, which is 82% Government-owned, had agreed in July 2010 to sell its Indian retail and commercial business to HSBC for £63 million over the tangible net asset value of the operation.
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