Offshore Banking Unit permission requires Reserve Bank approval and compliance with notified terms for SEZ operation. Permission to establish and operate an Offshore Banking Unit in a Special Economic Zone requires an application in the prescribed form to the Reserve ... Summary
Offshore Banking Unit permission requires Reserve Bank approval and compliance with notified terms for SEZ operation.
Permission to establish and operate an Offshore Banking Unit in a Special Economic Zone requires an application in the prescribed form to the Reserve Bank; the Reserve Bank shall grant permission only if satisfied that the applicant fulfills the statutory conditions, and the Reserve Bank may, by notification, specify the terms and conditions governing setup and operation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.