https://www.taxtmi.com/news?id=3335 NBFCs require prior permission from the Reserve Bank of India before opening branches, offices, joint ventures, subsidiaries or representative offices abroad; permission is separate from overseas regulator approvals. Conditions include prohibition on investment in non financial services, ban on direct investment in activities prohibited under FEMA or in sectoral funds, an aggregate overseas investment cap tied to Net Owned Funds, prohibition of multi layered cross jurisdictional structures, limitation on NPA levels, and compliance with FEMA and KYC norms. en-us Tue, 15 May 2012 18:17:10 +0530 Tue, 15 May 2012 18:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3335 NBFCs require prior permission from the Reserve Bank of India before opening branches, offices, joint ventures, subsidiaries or representative offices abroad; permission is separate from overseas regulator approvals. Conditions include prohibition on investment in non financial services, ban on direct investment in activities prohibited under FEMA or in sectoral funds, an aggregate overseas investment cap tied to Net Owned Funds, prohibition of multi layered cross jurisdictional structures, limitation on NPA levels, and compliance with FEMA and KYC norms. News - Tue, 15 May 2012 18:17:10 +0530 https://www.taxtmi.com/news?id=3335