J.P. Morgan India Pvt. Ltd., a unit of J.P. Morgan Chase & Co., plans to enter the private banking space in the country within 12 months, its chief executive said in a recent interview.

"Given India's potential and rising affluence, we will get into the private banking business. It should I believe happen in a year," Kalpana Morparia told Dow Jones Newswires in a recent interview.