11. Licensing of banking companies.- A company desiring to have a licence under section 22 of the Act shall apply to the principal office of the Reserve Bank in a form specified below, namely: (a) in the case of a company incorporated in India and desiring to commence banking business, in Form III; (b) in the case of company incorporated in India and in existence at the commencement of the Act, in Form IV; and (c) in the case of company incorporated outside India and desiring to commence / carry on banking business in India, in Form V. |