https://www.taxtmi.com/news?id=11208 Two principal clarifications affect implementation: the validity period of the in-principle approval for setting up the NOFHC/bank has been extended to permit additional time for reorganisation, restructuring and compliance with regulatory conditions attached to approvals; and where NOFHC-related requirements intersect with other sectoral regulators, intending applicants must approach those regulators to bring their entities under the NOFHC, with those regulators' decisions prevailing, while the proposed bank and all RBI-regulated entities must, at minimum, be under the NOFHC. en-us Tue, 04 Jun 2013 15:36:14 +0530 Tue, 04 Jun 2013 15:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11208 Two principal clarifications affect implementation: the validity period of the in-principle approval for setting up the NOFHC/bank has been extended to permit additional time for reorganisation, restructuring and compliance with regulatory conditions attached to approvals; and where NOFHC-related requirements intersect with other sectoral regulators, intending applicants must approach those regulators to bring their entities under the NOFHC, with those regulators' decisions prevailing, while the proposed bank and all RBI-regulated entities must, at minimum, be under the NOFHC. News - Tue, 04 Jun 2013 15:36:14 +0530 https://www.taxtmi.com/news?id=11208