Under the following scenarios, prior approval of RBI shall be required:
The principal business of the applicant falls in the four sectors namely defence, telecom, private security and information and broadcasting. However, no prior approval of the RBI shall be required, if government approval or license/permission by the concerned ministry/ regulator has already been granted
The applicant is a Non-Government Organization (NGO), Non-Profit Organization, body/ agency/ Department of a foreign government