Stay abreast with the latest developments in the professional domain along with in-depth analysis through the monthly BCA Journal. Get access to an engaging library of researched publications from the BCAS stable.
Learn MoreExplore past issues of BCA Journal & indulge in a treasure trove of high-quality professional content across format of print, videos & learning events from the BCAS stable.
Learn More
Part C:
FEMA
Given below are the highlights of certain RBI
circulars, press notes and notifications
34 A. P. (DIR Series) Circular No. 24, dated
December 30, 2009
Establishment of Branch Office (BO) / Liaison
Office (LO) in India by Foreign Entities – Delegation of Powers
This circular states that powers in respect of the
following have been delegated to AD Category – I banks: –
1. Submission of Annual Activity Certificate
(format annexed to this circular)
2. Extension of validity period of Liaison
Offices (except in the case of LO of foreign banks and insurance companies)
3. Closure of Branch Office(s) / Liaison Office(s).
Thus, in respect of the above matters, the bank
will take appropriate decisions and inform RBI of the same.
