6/14/2023 0 Comments Project office rbiIn case non-resident entity is not able to set up the office within the time frame due to reasons beyond its control, the AD Category-I bank may grant extension of time for a further period of six months.Īny further extension of time shall require the prior approval of Reserve Bank of India. After completion of six month the approval shall be lapsed. ♦ before issuing the approval letter by the AD Category-I bank, Copy of the Form FNC along with the details forward to the General Manager, RBI for allotment of Unique Identification Number (UIN) to each BO/LO.īO/LO/PO shall be opened within six month from the date of approval letter, which is granted by AD Category I bank.
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