Royal Bank of Scotland is planning to roll out a philanthropy advisory service in India as part of its wealth management business in the country.

Royal Bank of Scotland is planning to roll out a philanthropy advisory service in India as part of its wealth management business in the country.

Maya Prabhu, executive director of philanthropy at Coutts, RBS’s wealth management brand, said that the new service could potentially be launched around July this year. It will be operated by the local RBS team, but benefit from the expertise of Coutts’ charity team in the UK.

“Since the Indian economy opened up in the early 1990s, there has been an explosion in wealth creation, but not everyone has benefitted from it,” Prabhu, who is of Indian descent, told this publication. "Improving education and healthcare are the most popular destinations for philanthropy by wealthy individuals and families"