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Prohibition against opening a branch office or a liaison office or a project office or any other place of business in India

Regulation 3 - Regulation - FEMA - Regulation 3 - 3. No person resident outside India shall without prior approval of the Reserve Bank open in India a branch office or a liaison office or a project office or any other place of business by whatever name called except as laid down in these Regulations. Provided that a. A banking company resident outside India shall not require any approval under these Regulations for establishing any office in India if such company has obtained necessary approval .....

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