(Updates with Deutsche comments)
MUMBAI, July 23 The Reserve Bank of India said
on Wednesday that it cancelled the non-banking finance
registration certificate of Deutsche Securities India, the
primary dealership unit of Deutsche Bank.
The licence was cancelled after Deutsche Bank surrendered
its primary dealership (PD) registration to the central bank, a
spokesman at the lender in India told Reuters.
"Since regulations now permit banking entities to directly
operate PD business, Deutsche Bank has started offering PD
services to clients from April 2014," he said.
"As a result, Deutsche Securities, its NBFC (non bank
finance) arm, has surrendered the older PD licence to the RBI."
The central bank had not provided a reason for cancelling
the registration certificate in its announcement.
(Reporting by Suvashree Dey Choudhury; Editing by Anupama
Dwivedi and Rafael Nam)