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<h1>Offshore Banking Unit parity denied - OBUs in India not treated as overseas branches for foreign currency account opening.</h1> An Offshore Banking Unit (OBU) in India is not treated as equivalent to a branch of the bank outside India for the purpose of residents opening foreign currency accounts under the Liberalised Remittance Scheme; therefore residents cannot rely on OBU status to obtain overseas-branch treatment when opening such accounts.