In an interview to Reuters, Shiv Gupta, head of India private banking at RBS, said RBS sees strong long-term growth in wealth management business in the country.
"Lot of people who are looking at India as a strategic growth market, are looking at the potential of India rather than what it represents just right now," Gupta added.
Couple of months ago, Indian private banking arm of RBS has said that it aims to triple its assets under management to $3bn in India over the next four-to-five years.
RBS currently manages about 800 family accounts in India through offices in Mumbai, Delhi, Chennai and Bangalore.
RBS is competing with rivals including Morgan Stanley, UBS and Citigroup to establish its foothold in the rapidly growing India market.
According to a Capgemini and Merrill Lynch Wealth Management report, the combined wealth of millionaires in the Asia-Pacific region will increase 8.8% annually until 2018, compared with a global average of 7.1%.
