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What is ICICI Banks Offshore Banking Unit, SEEPZ?

April 26, 2017Bank Banking ICICI Offshore

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What is ICICI Banks Offshore Banking Unit, SEEPZ?

1 Answer

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10 Posted

RBI has given permission to select banks in India, fulfilling certain criteria, to setup Offshore Banking Units for promotion of export based units in Special Economic Zones. ICICI Bank’s Offshore Banking Unit (OBU) SEEPZ, Mumbai is a deemed foreign branch of ICICI Bank Limited situated in Special Economic Zone within India and undertakes International Banking business involving foreign currency denominated assets and liabilities.