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 cover transaction may be undertaken with a bank outside India, an Off-shore Banking Unit situated in a Special Economic Zone or an internationally recognized option exchange or another AD Category I bank in India.

  • 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 Off-shore Banking Unit is governed under the rules and guidelines of Bangladesh Bank.

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

  • Freight collected in foreign exchange by the account holder who is a shipping agent or a general sales agent in Sri Lanka on behalf of the foreign principal, by way of a remittance against a Business Foreign Currency Account or an account maintained in the Offshore Banking Unit.

  • 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.

  • Transfers from Business Foreign Currency Accounts or accounts maintained in the Offshore Banking Unit, irrespective of the account holder.

  • 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 the Lender’s offshore banking unit located at the date of this agreement in Sydney.
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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 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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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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Related to Offshore Banking Unit

  • Offshore means any country that is not one of the fifty United States or one of the United States Territories (American Samoa, Guam, Northern Marianas, Puerto Rico, and Virgin Islands). Permitted Uses and Disclosure by Business Associate.

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

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

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

  • international waters means waters falling outside the sovereignty or jurisdiction of any State;