Offshore Banking Unit definition

Offshore Banking Unit means a branch of a bank located in a Special Economic Zone and which has obtained the permission under clause (a) of sub-section (1) of section 23 of the Banking Regulation Act, 1949 (10 of 1949);
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Offshore Banking Unit means a banking branch Unit located in an International Financial Services Centre, as referred to in sub-section (1A) of section 80LA of the Act;
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Offshore Banking Unit means a branch of a bank located in a SEZ and which has obtained the permission under section 23(1)(a) of the Banking Regulation Act, 1949.
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Examples of Offshore Banking Unit in a sentence

  • The conventional retail bank Category replaces the Full Commercial Bank (conventional principles) Category that existed prior to July 2006; the conventional wholesale bank Category replaces the Offshore Banking Unit and Investment Bank License (conventional principles) categories.

  • Your deposits in the accounts you have with our Offshore Banking Unit are not insured under the cover provided by the Central Deposit Insurance Corporation.

  • You may open a demand deposit account or a time deposit account with our Offshore Banking Unit.

  • The recitals of this Agreement are deemed to be part of this Agreement.

  • The Bank obtained the Off-shore Banking Unit permission vide letter no.

  • The Bank commenced the operation of its Off-shore Banking Unit with effect from the year 2013.

  • The Company is the head entity of the tax-consolidated group.Offshore Banking Unit (“OBU”) LegislationIn June 2010, the Australian Taxation Office declared that the consolidated group is an Offshore Banking Unit (OBU) under Australian Taxation Law.

  • The Off-shore Banking Unit is a separate Banking Unit of Agrani Bank Limited, operates its business through separate counter.

  • The Bank has also an Offshore Banking Unit (OBU) at Chittagong Export Processing Zone, Chittagong.Bank Asia Limited acquired the business of Bank of Nova Scotia, Dhaka (incorporated in Canada) in the year 2001.

  • The Subsidiary holds a bank account for this purpose with HSBC Bank (Mauritius) Limited, Offshore Banking Unit, Mauritius.Designated Bank – IndiaUnder Indian law, the Subsidiary, as a non-Indian foreign investor, must use a designated remitting bank in India for all cash transfers into and out of India.


More Definitions of Offshore Banking Unit

Offshore Banking Unit means a branch of a bank located in a Special Economic Zone and which has obtained the permission under clause (a) of sub-section
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Offshore Banking Unit means the Bank’s offshore banking unit located at the date of this agreement in Melbourne.
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Offshore Banking Unit means a banking branch Unit located in an International Financial
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Offshore Banking Unit means a branch, subsidiary or affiliate of a foreign banking corporation which is duly authorized by the Central Bank of the Philippines to transact offshore banking business in the Philippines.
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Offshore Banking Unit means a brangh of a bank in India logated in the spegial egonomig zone and has obtained the permission under glause (a) of sub-
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Offshore Banking Unit means the Lender’s ‘Offshore Banking Unit’ located at Level 0, Xxxxxxx Xxxxx 000 Kxxx Xxxxxx, Xxxxxx, Xxx Xxxxx Xxxxx 0000.
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Related to Offshore Banking Unit

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

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

  • Sales finance company means that term as defined in section 2 of the motor vehicle sales finance act, MCL 492.102.

  • 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).

  • CDO shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • Qualified United States financial institution means an institution that:

  • CC means the Conditions of Contract.

  • 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.