An undertaking to this effect shall be obtained from the bank and an officer not below the rank of the branch Manager should sign the document, it said.
Budget 2019-20 need to continue supporting the start-up sector and extend the timeline considering global competition and gestation period required to develop a winning strategy.
He added that the quantum and nature of FDI inflows depend on many factors and accordingly no specific reasons can be attributed for increase or decrease of inflows on year-to-year basis.
Reiterating its stand on data localisation norms, the Reserve Bank of India (RBI) on Wednesday said that payment data of the Indian customers should only be stored in India.
