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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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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