Offshore Banking Unit definitions require a bank branch in a notified Special Economic Zone with prescribed banking authorisation. Definitions governing Offshore Banking Units identify the Foreign Exchange Management Act, 1999 as the governing Act and define an Offshore Banking Unit ... Summary
Offshore Banking Unit definitions require a bank branch in a notified Special Economic Zone with prescribed banking authorisation.
Definitions governing Offshore Banking Units identify the Foreign Exchange Management Act, 1999 as the governing Act and define an Offshore Banking Unit as a branch of a bank in India situated in a Government-notified Special Economic Zone and holding the prescribed banking authorisation. Regulations refer to regulations made under the Act, and undefined terms carry the meanings assigned under the Act.
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