The Reserve Bank of India (RBI) on Friday authorised Goldman Sachs to undertake primary dealership business in the country’s government debt market from April 18, 2011.
The move was first reported by HT on November 23.
“The RBI has authorised Goldman Sachs (India) Capital Markets Private Limited to undertake primary dealer business with effect from Monday, April 18, 2011,” the RBI said in a release.
An RBI committee is currently assessing the applications of several other entities. As and when the committee finds the applications of these banking entities acceptable and suitable and in compliance with the guidelines, RBI would grant licences, an official source told HT on the condition of anonymity.