https://www.taxtmi.com/news?id=11918 The Reserve Bank of India establishes a framework for Wholly Owned Subsidiaries by foreign banks, granting near-national treatment to locally incorporated WOSs while mandating WOS entry for banks with complex structures or deficient home-jurisdiction disclosure. The framework conditions optional branch or WOS presence, requires conversion when systemic or when specified criteria apply, sets minimum capital/net worth thresholds, requires parental letters of comfort, limits parental guarantee usage to arm's-length custodial and international operations, prescribes board composition and priority sector lending targets, and contemplates dilution and listing in line with FDI policy. en-us Thu, 07 Nov 2013 10:16:51 +0530 Thu, 07 Nov 2013 10:16:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11918 The Reserve Bank of India establishes a framework for Wholly Owned Subsidiaries by foreign banks, granting near-national treatment to locally incorporated WOSs while mandating WOS entry for banks with complex structures or deficient home-jurisdiction disclosure. The framework conditions optional branch or WOS presence, requires conversion when systemic or when specified criteria apply, sets minimum capital/net worth thresholds, requires parental letters of comfort, limits parental guarantee usage to arm's-length custodial and international operations, prescribes board composition and priority sector lending targets, and contemplates dilution and listing in line with FDI policy. News - Thu, 07 Nov 2013 10:16:51 +0530 https://www.taxtmi.com/news?id=11918