Treatment of Minimum Capital and Reserves | Banking Companies

Section 11 lays down the following minimum limit of paid up capital and reserves:  (a) Banking Companies Incorporated Outside India:  If it has a place of business in Mumbai or Kolkata or both ............... Rs. 20 lakhs If it does not have a place of business in Mumbai or Kolkata ............... Rs. 15 lakhs Further, every year 20% of the [...]