Legal Format & Draft
Application Form for Licence to Commence Business: Format
Reference draft used in Indian courts — replace the blanks with your own case details.
The Banking Regulation Act, 1949
FORM V
(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
Address ..........................
Date ................................
.......................
Department of Banking Operations and Development,
Reserve Bank of India,
.......................
Dear Sir,
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.
Yours faithfully,
Signature .......................
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.
7.Management
(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:
Existing offices.
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:
Commodity Production Imports Exports
Volume Value Volume Value Volume Value
1 2 3 4 5 6 7
(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
of deposits
Minimum Maximum
II. Advances ........Amount in thousands of rupees Rates proposed to be
charged on various types
of advances
Minimum Maximum
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.
Form of application for a licence to commence/carry on banking business in India by a banking company
incorporated outside India
Address ..........................
Date ................................
.......................
Department of Banking Operations and Development,
Reserve Bank of India,
.......................
Dear Sir,
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.
Yours faithfully,
Signature .......................
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.
7.Management
(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:
Existing offices.
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:
Commodity Production Imports Exports
Volume Value Volume Value Volume Value
1 2 3 4 5 6 7
(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
of deposits
Minimum Maximum
II. Advances ........Amount in thousands of rupees Rates proposed to be
charged on various types
of advances
Minimum Maximum
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.
Using this format
This is a reference draft reproduced for study and adaptation. Court rules, court fees and the correct forum vary with the facts and the value of the claim, so have the document checked and filed by an advocate. A defective application can be returned or dismissed even when the case itself is good.
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