The Indian arm of US-based merchant banker Morgan Stanley was Saturday authorised to undertake primary dealer business in government securities and bonds with effect from July 20.The company said in a subsequent statement it has, accordingly, appointed Manoj Kumar Swain the chief executive of primary dealer operations and that it would commence these activities in India from Monday.
"The new licence, along with our established non-banking finance business, provides us with a fully integrated onshore fixed income platform in India and enables us to offer a comprehensive suite of services and solutions to our local and global clients."
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