Standalone Primary Dealer (SPD): RBI registered list
7 PD companies are registered with RBI, as on 30 September 2026.
A Primary Dealer buys and trades government securities and helps the government raise debt. It does not give retail loans.
A Primary Dealer does not lend to the public. A loan offer in its name is a warning sign.
| Company | Type | Layer | RBI regional office |
|---|---|---|---|
| Goldman Sachs (India) Capital Markets Limited {Formerly: Goldman Sachs (India) Capital Markets Private Limited} | PD | Middle | Mumbai |
| ICICI Securities Primary Dealership Limited | PD | Middle | Mumbai |
| Morgan Stanley India Primary Dealer Private Limited | PD | Middle | Mumbai |
| Nomura Fixed Income Securities Limited | PD | Middle | Mumbai |
| PNB Gilts Limited | PD | Middle | New Delhi |
| SBI DFHI Limited | PD | Middle | Mumbai |
| STCI Primary Dealer Limited | PD | Middle | Mumbai |
Source: Reserve Bank of India, lists of NBFCs and ARCs registered with RBI and of NBFCs whose Certificate of Registration was cancelled, as on 30 September 2026. RBI updates the lists every month; check RBI's own list for the latest status. Oxon Fintech is a loan platform, not part of RBI, and is not connected with the companies listed here unless it says so. RBI's NBFC lists
A Primary Dealer buys and trades government securities and helps the government raise debt. It does not give retail loans.
7. Most are registered with RBI's Mumbai, New Delhi regional offices.
A Primary Dealer does not lend to the public. A loan offer in its name is a warning sign.
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