184+ Lawyers are online 
Can a SBI clerk invest in his relative's startup?
19-Sep-2023 (In Banking / Finance Law)
Can a SBI clerk invest as a founder / partner in his relative's software startup firm? Is there any limit on investment amount? Any approvals to be taken from bank? If not allowed, what other options are there for him to lend money to the startup firm for substantial returns in future?
Hi,
An SBI Clerk or any Government employee can't be invest in any other companies as a founder or partner.
He is the responsible Person of SBI. If the same SBI starts new channel as a sibling company, the clerk may eligible for investment depends on the company Regulations.( In Equity investments).If the clerk want to invest in a start-up as a partner, He must take the proper approval from management as per the SBI Regulations.( depends on the type of investments like equity, cash, NCD etc.)
There is no limits for investment(followed KYC and AML guidelines) on equity markets.
If the investments are in overseas, the maximum limit is USD 2,50,000 only per person. Another USD
2,50,000 eligible for spouse.
The total and maximize amount for investment in overseas is 5,00,000 US Dollars for a family.
There are the new ways of investments in Digital currencies , Block chain technologies.
Good luck. have a nice day.
An SBI Clerk or any Government employee can't be invest in any other companies as a founder or partner.
He is the responsible Person of SBI. If the same SBI starts new channel as a sibling company, the clerk may eligible for investment depends on the company Regulations.( In Equity investments).If the clerk want to invest in a start-up as a partner, He must take the proper approval from management as per the SBI Regulations.( depends on the type of investments like equity, cash, NCD etc.)
There is no limits for investment(followed KYC and AML guidelines) on equity markets.
If the investments are in overseas, the maximum limit is USD 2,50,000 only per person. Another USD
2,50,000 eligible for spouse.
The total and maximize amount for investment in overseas is 5,00,000 US Dollars for a family.
There are the new ways of investments in Digital currencies , Block chain technologies.
Good luck. have a nice day.
Helpful?
11+
11+
Adv. Syam Charan Godi
Hyderabad | 100+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Banking / Finance lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
