By Linda Chiem (July 27, 2015, 7:21 PM EDT) -- Royal Bank of Scotland Group PLC is in talks to sell its Indian private banking business to a firm led by Shiv Gupta, a current RBS managing director and head of the Indian private banking business, Bloomberg reported Monday. Paving the way for a management buyout of the unit, RBS signed a nonbinding framework agreement and is in discussions to sell the Indian private wealth business to Gupta-led Sanctum Wealth Management, Bloomberg said. RBS, which has about $2.5 billion of private banking assets under management in India, is following other global banks including UBS Group AG, Morgan Stanley and Macquarie Group Ltd. that have exited India's private wealth market in the past two years, according to the report....