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RESERVE BANK OF INDIA www.rbi.org.in RBI/201415/77 BOD. No. BAND.BC. 7/22.01.001/201415 July 1, 2014, All Commercial Banks (Excluding Ribs) Dear Sir/Madam, Section 23 of the Banking Regulation Act,

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Branch authorisation - reserve is a requirement for branches of foreign companies operating in a specific country to set aside funds as a reserve.

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