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Our Bureau

Mumbai , Dec. 14

IDBI Ltd is setting up a separate subsidiary for its primary dealership business called IDBI Gilts Ltd.

The bank informed the Bombay Stock Exchange on Thursday that it has received a certificate of incorporation from the Registrar of Companies. The PD subsidiary will be a wholly-owned subsidiary of IDBI Ltd.

Currently the bank is carrying out trading in government securities and debt through its capital market subsidiary, IDBI Capital Market Services Ltd.

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IDBI arm for gilts trading

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