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of <h1>Indbank Invesco (Offshore) Fund Recognized as Offshore Mutual Fund u/s 10(23D)(ii) of the Income-tax Act.</h1> The Central Government has specified Indbank Invesco (Offshore) Fund as an Offshore Mutual Fund under section 10(23D)(ii) of the Income-tax Act, 1961. Established by Indian Bank under a trust deed dated July 31, 1996, and approved by the Securities and Exchange Board of India, this notification remains valid as long as Indian Bank serves as the trustee. Conditions include compliance with requirements from Indbank Invesco, the Reserve Bank of India, or SEBI, investment remittances through normal banking channels, and repatriation of fees to India through standard banking procedures.
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