The Reserve Bank of India has stated that entities from Pakistan, China, Bangladesh, Sri Lanka, Afghanistan, Iran and Hong Kong or Macau will require its prior approval to establish branch office or project office or liaison office in India.
The approval is also required if the applicant is a Non-Government Organisation (NGO), a Non-Profit Organisation, or a Body/ Agency/ Department of a foreign government. Apart from these, the permission of RBI will also be required for opening a BO/LO/PO in Jammu and Kashmir, North East region and Andaman and Nicobar Islands.
The RBI approval will also be needed if the principal business of the applicant falls in the four sectors like defence, telecom, private security and information and broadcasting.
So let’s discuss some questions related to this post :
1. Name the countries from which any entity is required to get prior approval to establish branch office in India ?
Courtesy : Business Standard