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Can Foreign Insurance Companies / Banks set up Liaison Office in India?

April 26, 2017Banks companies foreign India Insurance Liaison Office

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Can Foreign Insurance Companies / Banks set up Liaison Office in India?

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Ans. Foreign Insurance companies can establish Liaison Offices in India only after obtaining approval from the Insurance Regulatory and Development Authority (IRDA). Similarly, foreign banks can establish Liaison Offices in India only after obtaining approval from the Department of Banking Operations and Development (DBOD), Reserve Bank of India.