RBI permits foreign offices in SEZ
By RBI has decided to grant | 19 Jan 2004
1
Mumbai:
The Reserve Bank of India has permitted foreign companies
to establish branch offices or units in Special Economic
Zones (SEZs) to undertake manufacturing and service activities
subject to fulfilling certain conditions.
RBI
has decided to grant a general permission if such units
function
in those sectors where 100 per cent FDI is permitted,
provided they comply with part XI of Companies Act and
function on a "stand-alone" basis.
