IL&FS is selling its custody and depository business, IL&FS Securities Services (ISSL), and potential buyers can bid for either the custody or depository business separately or both together. ISSL is a non-bank custodian and has a depository license. The Reserve Bank of India no longer grants custodial licenses to non-banks, making ISSL an attractive proposition for entities looking to enter the business.
from Banking/Finance-Industry-Economic Times https://ift.tt/8kVOrUM
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