International-Business-Dr-R-Chandran-E-book

cannot accept
time deposits
of less than
SGD
250000;
operate
savings
account;
have more
than one
location (no
branches)
Total credit
facilities to
Singapore
non-bank
customers
must be less
than SGD 50
million
provide
detailed
financial
statements to
the MAS on
a monthly
basis.
80
International Business- Dr. R. Chandran
India as offshore banking, an emerging sector
The concept and practices are not new to Indian banks. Indian public sector
banks such as Bank Of India, State Bank Of India, Punjab National Bank
and Bank Of Baroda already had operations in other countries. They have
developed systems and expertise to handle offshore operations. The
customers, both investing and borrowing segments are also aware of the
mechanism. But in real terms, the awareness has been created while news
items started appearing on overseas banking units (OBU) could be set up in
special economic zones (SEZ) without mandatory requirements of SLR
(Statuary Liquidity Ratio).
Only for Private Circulation