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>> RESERVE BANK OF INDIA Latest News

JAN 26, 2013 - Yahoo! News

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Morgan Stanley to allow India banking license to lapse: report

MUMBAI (Reuters) - Morgan Stanley intends to allow its banking license in India to lapse as part of its changed business strategy, the Economic Times newspaper reported on Saturday. However, the Wall Street bank will continue to run its investment banking business and stay registered as a non-banking finance company with the central Reserve Bank of India, the newspaper reported, citing an unnamed senior banker. Morgan Stanley declined to comment on the report. In March 2012, it received the license to set up a bank in the country. ...

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