RBI guideline on Branch / Liaison Office in India

Reserve Bank of India vide its A.P. (DIR Series) Circular No. 02 dated 15 July 2011 have highlighted that some foreign entities who have established Liaison Offices (LO) or Branch Offices (BO) in India prior to 1 June 2000 under erstwhile Foreign Exchange Regulation Act 1973 or under Government of India approval have continued their functions without obtaining permission from RBI. Further RBI vide said circular has requested such entities to approach them within a period of 90 days from the date of issue of the said circular to obtain RBI permission. All such applications, in form FNC, should be addressed to the Chief General Manager-in-Charge, Reserve Bank of India, Foreign Exchange Department, Foreign Investment Division, Fort, Mumbai 400 001 and routed through respective AD Category - I Bank where LO/BO account is maintained.