APPLICATION FORM FOR LICENCE TO COMMENCE BUSINESS BY A COMPANY INCORPORATED OUTSIDE INDIA
The Banking Regulation Act, 1949
(See rule 11) (Section 22)
Form of application for a licence to commence/carry on banking business in India by a banking company incorporated outside India
Department of Banking Operations and Development,
Reserve Bank of India,
Application to commence /carry on banking business in India
We hereby apply for a licence to Commence/carry on banking business in terms of section 22 of the Banking Regulation Act, 1949. We give below the necessary information in the form prescribed for the purpose.
1 . Name of the banking company.
2.Place of location of the registered office of the banking company and of its head off ice.
3.State whether the banking company is public or private.
4.Date of incorporation.
5.Country or State in which the banking company is incorporated.
6.Previous applications: Give particulars of any application previously made to the Reserve Bank in this connection.
(a)Give names, business and addresses of directors in India.
(b)Give the name of the chief executive officer or the proposed chief executive officer in India, his qualifications, experience, age and the remuneration paid or proposed to be paid.
8. (a) For a banking company already carrying on banking business in India:
Give the number of offices in India and a brief description of the system of supervision and control over the offices.
(b) For a company desiring td commence banking business in India:
State detailed reasons for an office in India and give statistical and other data, as under, which may have been collected in respect of the area which the company intends to serve:
(i)The population of the area of operation of the proposed place of business.
(ii)The volume and value of agricultural, mineral and industrial production and imports and exports of the area of operation of the proposed place of business as under:
(iii)If there are any schemes for agricultural, mineral or industrial developments give details of the same and their probable effects on the volume and value of the present production, imports and exports.
(iv)If the existing banking facilities are considered inadequate, give reasons.
(v)Prospects: Give as under an estimate of the minimum business which the company expects to attract at the proposed place of business within 12 months.
I.Deposits …………Amount in thousands of rupee Rates proposed to be
allowed on various types
II. Advances ……..Amount in thousands of rupees Rates proposed to be
charged on various types
III. Export and Import Bills ……………Amount in
thousands of rupees.
9.State what arrangements have been made to ensure compliance with the provisions of section 11 (2) of the Act.
10.Forward an up-to-date copy of the Memorandum and Articles of Association and copies of the balance sheets together with profit and loss account statements for the last five years (with certified translations in English, if not in that language).
11.State whether the banking company fulfils the conditions laid down in subsection (3) of section 22, and whether it is agreeable to permit the Reserve Bank to satisfy itself by an inspection of the books of the company or otherwise that the prescribed conditions are being fulfilled by the company.
12.Any additional facts which the banking company may wish to adduce in support of its application.