11E.2
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Acquisition, Sale etc. of Immovable Property by Foreign Banks
The acquisition, sale, etc. of immovable properties in India by foreign banks operating in India is governed by the relevant provisions of Banking Regulation Act, 1949 and the policy of Reserve Bank in this regard in force from time to time. Foreign banks should ensure while undertaking such transactions in immovable property that they are in accordance with the provisions of the Act and directions issued, if any, by the Department of Banking Operations and Development of Reserve Bank.