Foreign-currency business in international financial services centres remains regulated, while Indian rupee dealings require general or specific permission. Business conducted by financial institutions and their branches in an International Financial Services Centre must be in the foreign currency and with ... Summary
Foreign-currency business in international financial services centres remains regulated, while Indian rupee dealings require general or specific permission.
Business conducted by financial institutions and their branches in an International Financial Services Centre must be in the foreign currency and with persons determined by the concerned Regulatory Authority, whether resident or otherwise. General or specific permission may allow such institutions or branches to conduct that business in Indian rupees with persons determined for that purpose.
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