IFSC Banking Unit definition

IFSC Banking Unit or an “IBU” means a bank permitted by the Reserve Bank of India under the Banking Regulation Act, 1949 to operate from an International Financial Services Centre (IFSC).
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IFSC Banking Unit means a financial institution defined under clause (c) of sub-section (1) of section 3 of the International Financial Services Centres Authority Act, 2019 (50 of 2019), that is licensed or permitted by the International Financial Services Centres Authority to undertake permissible activities under the International Financial Services Centres Authority (Banking) Regulations, 2020;”;
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IFSC Banking Unit or “IBU” means a Banking Unit licensed or permitted by the Authority to operate in an IFSC as a branch of the Parent Bank.]
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Examples of IFSC Banking Unit in a sentence

  • Under this program, the Issuer, acting through its Head Office, IFSC Banking Unit, Singapore Branch, Hong Kong Branch, Dubai Branch, or New York Branch, may from time to time issue the Bonds.

  • External commercial borrowings from ICICI Bank Limited IFSC Banking Unit of USD 4 million, Union Bank of India (UK) Limited USD 6 million and USD 10 million from AFR Asia Mauritius repayable in two equal installments in 5th and 6th year from first utilisation dated November 10, 2016.

  • In order to avoid double taxation, it is proposed to exempt income accrued or arisen on offshore derivative instruments which is distributed to non-resident individual by IFSC Banking Unit (‘IBU’) and on which income tax is paid by IBU.

  • Which bank has recently announced the opening of its IFSC Banking Unit (IBU) at Gujarat International Finance Tech City (GIFT City)?RBL Bank.

  • Under this program, the Issuer, acting through its Head Office, Offshore Banking Unit, IFSC Banking Unit, Singapore Branch, Hong Kong Branch, Bahrain Branch, Dubai Branch, or New York Branch, may from time to time issue the Bonds.

  • Address .................Date ......................International Financial Services Centres Authority.............................Dear Sir,We hereby apply for permission to * open an IFSC Banking Unit at.GIFT SEZ IFSC in terms of section 23 of the Banking Regulation Act, 1949.

  • In October 2015, India’s first IFSC Banking Unit became operational at GIFT IFSC.

  • Note: Bank of Baroda’s IFSC Banking Unit (IBU) is the first and only bank to provide transaction-based Internet Banking facility in three major foreign currencies i.e. US Dollar, Euro and British Pound Sterling to cater to the needs of its retail and corporate customers.

  • Currently, income of a non-resident from only transfer of inter-alia ODI entered into with IFSC Banking Unit (‘IBU’) is exempt.

  • Title Vice President & Head Credit SUMITOMO MITSUI BANKING CORPORATION By: /s/ Xxxxxxx Xxxxxxxx Name: Xxxxxxx Xxxxxxxx Title :Executive Director Tranche A-1 Term Lender Tranche A-1 Term Commitment Funding Jurisdiction Australia and New Zealand Banking Group Limited, Singapore Branch $ 15,000,000 Singapore Axis Bank Limited IFSC Banking Unit (IBU) GIFT City $ 100,000,000 India Bank of America, N.

Related to IFSC Banking Unit

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • Mobile Banking means the banking services accessible from the Device you have registered with us for Mobile Banking.

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • RFR Banking Day means any day specified as such in the Reference Rate Terms.

  • Internet Banking means the service we offer by which you can access and transact on a nominated account by using a personal computer and accessing via our website. This includes transactions processed through the mobile banking facility as well as the smartphone app facility.

  • Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.

  • Online Banking is the internet-based service providing access to your Bank account(s);

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Local Banking Day means a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits) in the place of presentation of the relevant Covered Bond or, as the case may be, Coupon; and

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • New York Banking Day means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.

  • Manager-managed limited liability company means a limited liability company that is managed by

  • Financial Services means any service of a financial nature, including (but not limited to) —

  • Relevant Banking Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place where the specified office of the Registrar is located and, in the case only of an exchange of a Bearer Note for a Registered Note where such request for exchange is made to the Principal Paying Agent, in the place where the specified office of the Principal Paying Agent is located;

  • Applicable Banking Regulations means at any time the laws, regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, then applicable to Banco Santander and/or the Group including, without limitation to the generality of the foregoing, the CRD IV, the BRRD, the SRM Regulation and those regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency of the Regulator and/or the Relevant Resolution Authority then applicable to Banco Santander and/or the Group including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, in each case to the extent then in effect in the Kingdom of Spain (whether or not such regulations, requirements, guidelines or policies have the force of law and whether or not they are applied generally or specifically to Banco Santander and/or the Group).

  • Public Finance Management Act ’ means the Public Finance Management Act, 1999 (Act No. 1 of 1999);

  • Telephone Banking Service or “TBS” means any banking service operated over the telephone (by whatever name it may be known as) offered by the Bank, in connection with the Service Instructions and includes but is not limited to such services respectively known as Self Service Phone Banking and CitiPhone Banking; and

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) replaced by The Companies Act, 2013 (No. 18 of 2013) and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund;

  • Call Centre means a dedicated centre that has the purpose of receiving and transmitting telephone calls in relation to customer service operations of the retailer or distributor, as relevant, and consists of call centre staff and 1 or more information technology and communications systems designed to handle customer service calls and record call centre performance information.

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Telephone Banking means banking services available from time to time by telephone;

  • Federal banking agency means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration and the Federal Deposit Insurance Corporation;

  • Venture capital fund means a private fund that meets the definition of a venture capital fund in SEC Rule 203(l)-1, 17 C.F.R. § 275.203(l)-1.

  • CAFA means the Class Action Fairness Act of 2005, 28 U.S.C. §§ 1711-1715.

  • Urban transit hub means an urban transit hub, as defined in

  • CC means the Conditions of Contract.