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Back to Top of Index Question-77: What is a designated branch ?

April 26, 2017branch designated index

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Back to Top of Index Question-77: What is a designated branch ?

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Reserve Bank has authorised a few branches of each bank to conduct the business under Portfolio Investment Scheme on behalf of NRIs. These branches are the main branches of major commercial banks located close to the stock exchange/s. NRIs will have to route their applications through any of the designatd bank branches who have authorisation from Reserve Bank.