Branch/Project/Liaison Offices in India of person resident outside India

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....ison Offices inIndia of person resident outside India Attention of Authorised Dealers is invited to Regulation 5 (iii) of Reserve Bank Notification No. FEMA 22/2000-RB dated 3rd May 2000 in terms of which Reserve Bank imposes certain terms and conditions while granting approval to a person resident outside India to establish a branch/project/liaison office in India. One of the conditions of the a....

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....ccordingly, it has now been decided to permit Authorised Dealers to open term deposit account for a period not exceeding 6 months in favour of a branch/office of a person resident outside India provided the Authorised Dealer is satisfied that the term deposit is out of temporary surplus funds and the branch/office furnishes an undertaking that the maturity proceeds of the term deposit will be util....