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What are the prohibitions against establishing branch or liaison office in India?

April 26, 2017branch India Liaison Office prohibitions

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What are the prohibitions against establishing branch or liaison office in India?

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No person resident outside India shall, without prior approval of the Reserve Bank, establish in India a branch or a liaison office or a project office or any other place of business by whatever name called: Provided that no approval shall be necessary for a banking company, if such company has obtained necessary approval under the provisions of the Banking Regulation Act, 1949.