Public warehouse licensing requires eligibility, a compliance undertaking, and a bank solvency certificate with specified exemptions. The Principal Commissioner or Commissioner may license public warehouses for deposit of dutiable goods subject to prescribed conditions. Applicants must be Indian citizens or duly incorporated/registered entities, submit an undertaking to comply with prescribed terms, and furnish a solvency certificate from a scheduled bank, with an exemption from the solvency requirement for government undertakings and notified major ports.