After completion of six month the approval shall be lapsed. ♦ before issuing the approval letter by the AD Category-I bank, Copy of the Form FNC along with the details forward to the General Manager, RBI for allotment of Unique Identification Number (UIN) to each BO/LO.īO/LO/PO shall be opened within six month from the date of approval letter, which is granted by AD Category I bank. sources of funds, etc., and compliance with the extant KYC norms grant approval to the foreign entity for establishing BO/LO/PO in India.satisfying itself as regards adherence to the eligibility criteria for establishing BO/LO/PO,.♦ AD Category-I bank shall after exercising due diligence in respect of the
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