MUMBAI, Jan 4 (Reuters) - Barclays Plc plans toshut its India equities business as part of the British bank'sefforts to slash costs and boost profit, two sources with directknowledge of the development said on Monday.
Barclays equities business in India, which was rolled out in2011, includes research and broking services for institutionalinvestors, and it employs about two dozen people, the sourcestold Reuters.
The closure of the India equities business is part of newBarclays Chief Executive Jes Staley's plan to cut costs, theysaid, adding a final decision on this could be taken by the endof this month.
The sources did not want to be named as the development isnot public yet. A spokesman for Barclays in India declined tocomment. (Reporting by Sumeet Chatterjee; editing by Susan Thomas)