(3)Before granting any licence under this section, the Reserve Bank may require to be satisfied by an inspection of the books of the company or otherwise that all or any of the following conditions are fulfilled, namely:—(a)that the company is in a position to pay its depositors in full as their claims accrue;(b)that the affairs of the company are not being conducted to the detriment of the interests of its depositors;(c)in the case of a company incorporated {Subs.by Act 20 of 1950, s.3, for ‘ elseswhere than in a State “} [outside India] that the Government or law of the country in which it is incorporated does not discriminate in any way against banking companies registered {Subs., ibid., for ‘ in a State “.} [in India], and that the company complies with all the provisions of this Act, applicable to banking companies incorporated {Subs., ibid, for ” outside the States’} [outside India].
