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of <h1>Offshore Banking Units Regulated: RBI Establishes Comprehensive Guidelines for International Financial Operations Under FEMA</h1> The Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002 were issued by the Reserve Bank of India under Sections 6, 7, 8, 9, and 47 of the Foreign Exchange Management Act, 1999. The regulations establish the legal framework for offshore banking units, specifying their short title and effective date of implementation through official gazette publication.
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