Author: acer
Last saved by: Law Office

FORM TO COMMENCE BANKING -BUSINESS IN INDIA

The Banking Regulation Act, 1949
FORM III
(See rule 11) (Section 22)

Form of application for a licence to commence banking business by a company incorporated in India and desiring to commence banking business
 
Address________________
	Date________________
________________
Department of Banking Operations and Development,
Reserve Bank of India,
________________ 

Dear Sir,
		Application for a licence to commence banking business
 
We hereby apply for a licence to commence 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.
 
	    Yours faithfully,

Signature ________________
(Name)
(Signature)
(Address)
(Contact)

 
1.Name of the company.

2.Place of location of the registered office of the company.

3.State whether the company is public or private.

4.Date of incorporation.

5.Previous application: Give particulars of any application previously made to the
Reserve Bank in this connection.

6.Management
 
(a)	Give names, business and address of directors, the amount of shares held by each and the names of the bankers of each of them.
(b)	Give the name of the proposed chief executive officer, his qualifications, experience, age and the proposed remuneration.

7.State detailed reasons for the floatation of the Company 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:
 
Commodity | Production | Imports | Exports
| Volume | Value | Volume | Value | Volume | Value
| 2 | 3 | 4 | 5 | 6 | 7
 
(iii)If there are any schemes for agricultural, mineral or industrial development 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 rupees	Rates proposed to be
			allowed on various types
			of deposits
								Minimum 	Maximum

	II. Advances ________________Amount in thousands of rupees	Rates proposed to be
			charged on various types
			of advances
								Minimum 	Maximum
 
8.Forward an up-to-date copy of the Memorandum and Articles of Association and a copy of the prospectus (with certified translations in English, if not in that language).
 
9.State whether the company fulfils the conditions laid down in sub-section (3) of section 11, 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.
 
10.Any additional facts which the company may wish to adduce in support of its application