Definitions

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....) "Foreign Bank" means a banking company incorporated or established outside India; ^8[(da) "Global Administrative Office" or "GAO" means a financial institution set up by its Parent Bank in IFSC for undertaking any one or more of the following activities, namely: (i) managing, administering, or coordinating operations of the Parent Bank or any of the Group entities either in IFSC or outside IFSC; (ii) providing support services to Parent Bank or any of the Group entities for execution of the permitted activities either in IFSC or outside IFSC Provided that the activities pertaining to a jurisdiction outside IFSC shall be subject to the directions and instructions of the relevant regulator in the said jur....

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....dministrative Office;] (k) ^4[****] (l) ^5[****] ^15[(la) Referral services" means an activity in which a BU, pursuant to an arrangement with a financial product or financial service provider, refers its clients or the clients of its Parent Bank as potential customers (or "leads"), to such financial product or financial service provider for providing them the financial product(s) or financial service(s).] ^10[^16[(lb)] "Representative Office" or "RO" means a financial institution set up by its Parent Bank in IFSC for undertaking any one or more of the following activities, namely: (i) marketing of financial products; (ii) collection of data; (iii) carrying out of outreach operat....

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....icensed by the Authority to undertake permissible activities under these regulations;" 2.  Omitted vide Notification No. IFSCA/2021-22/GN/REG013 dated 05-07-2021 w.e.f. 06-07-2021 before it was read as, "(e) "Foreign Bank Unit" means a Banking Unit set up by a Foreign Bank;" 3.  Omitted vide Notification No. IFSCA/2021-22/GN/REG013 dated 05-07-2021 w.e.f. 06-07-2021 before it was read as, "(g) "Indian Bank Unit" means a Banking Unit set up by an Indian Bank;" 4.  Omitted vide Notification No. IFSCA/2021-22/GN/REG013 dated 05-07-2021 w.e.f. 06-07-2021 before it was read as, "(k) "Qualified Individual" means an individual who is a person resident outside India having n....

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....ing Unit;" 10.  Inserted vide Notification No. IFSCA/2022-23/GN/REG025 dated 29-06-2022 w.e.f. 30-06-2022 11.  Inserted vide Notification No. IFSCA/2022-23/GN/REG025 dated 29-06-2022 w.e.f. 30-06-2022 12.  Substituted vide Notification No. IFSCA/2023-24/GN/REG041 dated 06-07-2023 w.e.f. 07-07-2023 before it was read as, "^7[(c) "Banking Unit" or "IFSC Banking Unit" means a financial institution under clause (c) of sub-section (1) of Section 3 of the Act that is licensed by the Authority to undertake permissible activities under these regulations;]" 13.  Inserted vide Notification No. IFSCA/2023-24/GN/REG041 dated 06-07-2023 w.e.f. 07-07-2023 14.  Substi....