RBI directs banks not to grant approval for liaison/branch offices of foreign law firms under FEMA

Back in October 2015, the RBI had issued a notification stating that no foreign law firm shall be permitted to open any liaison office in India until the matter is decided by the Supreme Court.
RBI directs banks not to grant approval for liaison/branch offices of foreign law firms under FEMA
RBI, Foreign law firms

The Reserve Bank of India (RBI) has issued a notification directing Authorised Dealer (AD Category - I) banks not to grant approval to any branch office of foreign law firms under the Foreign Exchange Management Act (FEMA), 1999.

AD Category–I banks are Authorised Money Changers (AMCs) approved by the RBI under Section 10 of the FEMA.

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