participation in financial products linked to rupee

IFSCA has vide its circular dated 25th August, 2021 clarified that branches of Indian banks and branches of other financial institutions that are set up in IFSC Gift City are allowed to offer financial products linked to the Indian rupee. As per the RBI definition, these units are classified as “overseas entity”.

https://ifsca.gov.in/Viewer/Index/223

Copy of circular can be accessed here.

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