Morgan Stanley gets licence to set up bank in India

US-based Morgan Stanley has received the go-ahead from the Reserve Bank of India (RBI) to open a branch in India, which will allow it to accept deposits from the public and compete with larger regional rivals Citibank N.A. and JP Morgan Chase and Co., as first reported by The Economic Times on Wednesday
http://www.livemint.com/2012/05/30222644/Morgan-Stanley-gets-RBI-nod-fo.html?atype=tp

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