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Does the allotment of an identification number by the Reserve Bank for direct investments under the automatic route constitute an approval from the Reserve Bank?

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Does the allotment of an identification number by the Reserve Bank for direct investments under the automatic route constitute an approval from the Reserve Bank?

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A. No. The allotment of the identification number does not constitute an approval from the Reserve Bank for the investment made/to be made in the JV/WOS. The issue of an identification number only signifies the taking on record of the investment for maintaining the database.

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