Reserve Bank authority to regulate foreign branch and office establishments governs prior approval and defined exceptions for regulated entities. Section 6(6) authorises the Reserve Bank to prohibit, restrict or regulate establishment in India of branches, offices or other places of business by persons resident outside India, without prejudice to other subsections. The RBI exercised this power through the 2016 Regulations, which define Branch, Liaison, Project and Site Offices, require prior RBI approval for establishment subject to specified exceptions for regulated foreign banks and insurers and for branch offices in Special Economic Zones meeting defined FDI and compliance conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reserve Bank authority to regulate foreign branch and office establishments governs prior approval and defined exceptions for regulated entities.
Section 6(6) authorises the Reserve Bank to prohibit, restrict or regulate establishment in India of branches, offices or other places of business by persons resident outside India, without prejudice to other subsections. The RBI exercised this power through the 2016 Regulations, which define Branch, Liaison, Project and Site Offices, require prior RBI approval for establishment subject to specified exceptions for regulated foreign banks and insurers and for branch offices in Special Economic Zones meeting defined FDI and compliance conditions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
