Standalone dealers to get forex licences

MUMBAI: The Reserve Bank of India has given bond houses an opportunity to do more business in addition to debt securities as the central bank has decided to give foreign exchange licence to standalone primary dealers.

In order to facilitate SPDs to provide comprehensive services to their FPI clients, it has been decided to provide the SPDs a limited Foreign Exchange licence, RBI said in its bi-monthly policy.

A circular in this regard shall be issued by the end of June 2018.