https://www.taxtmi.com/acts?id=55143 Indian and foreign banks require an Authority licence to establish a Banking Unit in an International Financial Services Centre. The Parent Bank must apply as prescribed, maintain the required starting capital on an unimpaired basis, obtain home-regulator clearance, and undertake to provide liquidity when needed. Foreign banks without an Indian presence are subject to an additional mechanism. Licensing may carry further conditions, with an opportunity for written submissions before a reasoned rejection. Each Parent Bank may establish only one Banking Unit in each International Financial Services Centre as a branch, while Representative Offices remain subject to specified conditions. en-us Mon, 14 Sep 2026 14:23:19 +0530 Mon, 14 Sep 2026 18:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=55143 Indian and foreign banks require an Authority licence to establish a Banking Unit in an International Financial Services Centre. The Parent Bank must apply as prescribed, maintain the required starting capital on an unimpaired basis, obtain home-regulator clearance, and undertake to provide liquidity when needed. Foreign banks without an Indian presence are subject to an additional mechanism. Licensing may carry further conditions, with an opportunity for written submissions before a reasoned rejection. Each Parent Bank may establish only one Banking Unit in each International Financial Services Centre as a branch, while Representative Offices remain subject to specified conditions. Act-Rules Indian Laws Mon, 14 Sep 2026 14:23:19 +0530 https://www.taxtmi.com/acts?id=55143