UBS receives India banking go-ahead
The license will allow the Swiss dealer to expand its current offering in the country to wholesale and retail banking, corporate and institutional investments and services, including FX and FX derivatives. The bank has been running an equity sales and advisory business through UBS Securities, which operates under a merchant licence, granted by the Securities and Exchange Board of India, since 1990.
Other foreign banks allowed to operate branches in India include Standard Chartered, HSBC, ABN
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