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).
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;”;
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.]
Examples of IFSC Banking Unit in a sentence
Title Vice President & Head Credit SUMITOMO MITSUI BANKING CORPORATION By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ 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.