Offshore banking unit regulations create RBI regulatory framework under FEMA for establishment, powers and commencement. Establishes a regulatory framework for Offshore Banking Units under the Foreign Exchange Management Act, 1999, made by the Reserve Bank of India using its ... Summary
Offshore banking unit regulations create RBI regulatory framework under FEMA for establishment, powers and commencement.
Establishes a regulatory framework for Offshore Banking Units under the Foreign Exchange Management Act, 1999, made by the Reserve Bank of India using its enabling powers; the instrument is cited as the Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002 and takes effect upon publication in the Official Gazette.
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