Global investment bank Goldman Sachs on Tuesday said it has approached the Reserve Bank of India (RBI) for a banking licence in India. ?We have applied for a commercial bank licence. Our file is in but the process for this is a long one,? Brooks Entwistle, Goldman Sachs CEO and managing director (India) said on the sidelines of a conference organised by OP Jindal Global University.
Regarding plans to launch their own asset management company in the next 12 months, Brooks said that Goldman Sachs already has a licence for asset management business. ?We had this plan of launching an asset management company for a long time but were not able to execute it. We intend to launch our management business in the next 12 months and we have already obtained the licence for it,? Brooks said.
About its India investment plans, Brooks said, ?In terms of investment, we have invested $2 billion in India till now. We have invested in 44 companies since we have arrived and are much focused on the Indian consumers. We are also trying to get more companies to invest in India.?
Sharing his plans for recruitment, Brooks said, ?We look for talent everywhere and we plan to recruit more people this year. Goldman Sachs as a firm is a big investor and we expect this to become more dynamic with each passing month.?