Offshore Banking Unit definition limits units to SEZ branches with authorisation, clarifying regulatory scope under FEMA regulations. Defines the scope and operative terminology for offshore banking under the Regulations: Offshore Banking Unit means a branch of an Indian bank located in a Special Economic Zone holding an authorisation issued under the Banking Regulation Act; words not defined here carry the meanings assigned by the Foreign Exchange Management Act.
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Provisions expressly mentioned in the judgment/order text.
Offshore Banking Unit definition limits units to SEZ branches with authorisation, clarifying regulatory scope under FEMA regulations.
Defines the scope and operative terminology for offshore banking under the Regulations: Offshore Banking Unit means a branch of an Indian bank located in a Special Economic Zone holding an authorisation issued under the Banking Regulation Act; words not defined here carry the meanings assigned by the Foreign Exchange Management Act.
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