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          FEMA

          Are intermediaries expected to seek specific approval for making overseas investments available to clients?

          Liberalised Remittance Scheme - As on Apr 06, 2023

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          Prior approval from Reserve Bank required for banks soliciting deposits or acting as agents for foreign financial services. Banks, including those without operational presence in India, must obtain prior approval from the Reserve Bank before soliciting deposits for their foreign or overseas branches or before acting as agents for overseas mutual funds or any other foreign financial services company.
                            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.

                                  Prior approval from Reserve Bank required for banks soliciting deposits or acting as agents for foreign financial services.

                                  Banks, including those without operational presence in India, must obtain prior approval from the Reserve Bank before soliciting deposits for their foreign or overseas branches or before acting as agents for overseas mutual funds or any other foreign financial services company.


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