Britain's Barclays plans to set up a private bank in India and hire 100 people by the end of the year to serve rich entrepreneurs, the Financial Times reported on Monday.
"We have a successful investment bank in India and we have a very good offshore business with Indian clients and we are building an onshore private bank in India. The economy is growing at an incredible pace," the newspaper quotes Tom Kalaris, the chief executive of Barclays Wealth Management, as saying.