Appointment of designated bank required for foreign institutional investors to open foreign currency and non-resident rupee accounts. A Foreign Institutional Investor must appoint a branch of a bank approved by the central banking regulator to open and maintain foreign currency ... Summary
Appointment of designated bank required for foreign institutional investors to open foreign currency and non-resident rupee accounts.
A Foreign Institutional Investor must appoint a branch of a bank approved by the central banking regulator to open and maintain foreign currency denominated accounts and special non-resident rupee accounts, making the appointment a precondition for those account types.
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