RBI issues norms for branch offices by foreign entities

Q.  RBI has issued norms for branch offices by foreign entities from which of the following countries?
- Published on 13 May 16

a. Pakistan
b. China
c. Bangladesh
d. All of the above

ANSWER: All of the above
 
RBI has issued norms for branch offices from Pakistan, China, Bangladesh and 4 other regions to require prior approval for establishing a foreign branch office project in India. Other countries and regions are as follows: Sri Lanka, Iran, Afghanistan and Hong Kong/Macau. RBI has also released guidelines for foreign officers to open branch or liaison office or project office in India.
  • Permission of the same will have to be granted for all three in J&K, NE region and Andaman and Nicobar islands.
  • Approval is also required if the principal business of the applicant falls in four sectors- defence, telecom, private security and information & broadcasting.
  • Approval is also required for NGO, NPO or Body/Agency/Department of foreign governments.
  • Applications from persons residing in other countries will be judged by the bank as per guidelines.

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