 "Morgan Stanley gets banking licence from RBI")
Morgan Stanley has received an in-principle approval from the RBI for a banking licence, a spokesman for the US bank said on Wednesday, confirming a report in the Economic Times.
[caption id=“attachment_325715” align=“alignleft” width=“380” caption=“The bank is unlikely to get into retail banking due to tough competition from local banks. Reuters”]  [/caption]
The licence would enable Morgan Stanley to expand its offerings to wealth management, corporate banking and foreign exchange from its current services such as advising clients on takeovers, the newspaper said, citing people familiar with the matter.
The bank is unlikely to get into retail banking due to tough competition from local banks, the paper said.
Reuters
 "Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty")
 "Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched")
 "Who is CP Radhakrishnan, India's next vice-president?")
 "Israel informed US ahead of strikes on Hamas leaders in Doha, says White House")
 "Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty")
 "Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched")
 "Who is CP Radhakrishnan, India's next vice-president?")
 "Israel informed US ahead of strikes on Hamas leaders in Doha, says White House")
](https://images.firstpost.com/wp-content/uploads/2012/05/mORGAN-STANLEY.jpg){kind=link}