September 29, 2009 / 3:18 AM / 9 years ago

Goldman, C.Suisse seek India banking license-report

MUMBAI, Sept 29 (Reuters) - U.S. financial firm Goldman Sachs (GS.N) and Swiss rival Credit Suisse CSGN.VX are seeking banking licenses in India to expand their product offerings, the Economic Times newspaper reported on Tuesday.

Goldman and Credit Suisse, which have merchant banking licenses in India, would be able to offer products and services such as derivatives and foreign exchange services with a license from the Indian central bank, the paper said.

Goldman wants to bring its complete range of products and services to India, including those from its fixed income, currency and commodities division, it said, citing investment banking sources.

Credit Suisse is looking to accept deposits and also offer other products, the paper said. (Reporting by Pratish Narayanan; Editing by Ranjit Gangadharan)

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