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Date: 03-03-2010
Notification No: SEZ Notification No. S.O. 527(E)
Issuing Authority: SEZ  
Type: Notifications
File No: F. No. C. 3/9/2008-SEZ
Subject: Offsite Automated Teller Machines in the Special Economic Zones by Banks, not licensed as Offshore Banking Units

MINISTRY OF COMMERCE AND INDUSTRY

(Department of Commerce)

NOTIFICATION

New Delhi, the 3rd March, 2010

S.O. 527(E). In exercise of the powers conferred by sub-section (1) of Section 49 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby declares that the provisions of clause (u) of Section 2 of the Special  Economic Zones Act, 2005, would not apply to Special Economic Zones in so far as they relate to setting up of (i) offsite Automated Teller Machines in the Special Economic Zones by Banks, not licensed as Offshore Banking Units; with the prior permission of the Reserve Bank of India under Section 23 of the Banking Regulation Act, 1949.

T. SRINIDHI, Director

[F. No. C. 3/9/2008-SEZ]

 

       

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