Prohibition on establishing foreign branches: RBI approval required, with specified exceptions for banks, SEZ units, and insurers. Non-residents must obtain prior Reserve Bank approval to establish a branch, liaison office, or other place of business in India, subject to exceptions: banking companies with Banking Regulation Act authorization; SEZ units undertaking manufacturing or services in sectors permitting full FDI that comply with companies law provisions, operate on a stand alone basis and follow winding up remittance procedures through an Authorised Dealer; and insurance companies with IRDA approval for liaison offices.