Latest News for: Bank offshore

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Sebi checks for unusual trades

The Times of India 03 Feb 2023
Mumbai ... They will submit their findings to the regulator ... Emails sent to Sebi, NSE and BSE went unanswered ... Adani Total Gas ... “Some of the foreign countries do not even share bank statements.”. The Hindenburg report had alleged that “offshore shells and funds tied to the Adani Group” comprise many of the conglomerate’s largest public shareholders ... .
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Govt paves way for IFSC units to issue P-notes to foreign investors

The Times of India 02 Feb 2023
There is already some interest in enabling IFSC funds to issue P-notes and it will be interesting to see whether the benefit will be restricted only to offshore banking units of foreign banks or extended to other entities like alternative investment funds (AIFs) set up in IFSC as well, he added.
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IDFC First Bank jumps over 5% after clarification on exposure to Adani group companies

The Times of India 02 Feb 2023
Shares of IDFC First Bank ... IDFC First Bank said the funded outstanding to Adani Group companies is only 0.06% of the funded assets as of December 2022 ... The bank further clarified it does not have any exposure to any offshore entities in Adani Group or against the shares of the Adani Group companies.
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Asian wind projects hit by shortage of vessels

Taipei Times 02 Feb 2023
Asian nations counting on offshore wind farms to meet clean energy goals are facing an increasing shortage of ships for installing the massive turbines in the sea ... A survey vessel sails past wind turbines at the Burbo Bank offshore wind farm near New Brighton, England, on Monday last week.
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A growth-oriented and progressive Budget

Business Line 02 Feb 2023
Allowing foreign banks to conduct acquisition financing from GIFT City is a welcome step and will attract many more banks to set up offices in GIFT IFSC. Recognising ODIs (Offshore Derivative Instruments) as valid contracts will give a fillip to the securities market ....
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Budget 2023: Hits and misses in the financial service sector

Financial Express 02 Feb 2023
... 2025 (ii) Current exemption for non-resident from transfer of offshore derivative instruments (ODIs) entered into with IFSC Banking unit to be extended to income distributed on ODIs to non-resident by IFSC banking unit provided the same is offered to tax by the IFSC banking unit.
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DOF shareholders wiped out in bankruptcy as lenders take over $1bn fleet

Tradewinds 02 Feb 2023
... lose everything after banks moved in and began bankruptcy proceedings.
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DOF shareholders wiped out in bankruptcy as lenders take over $1bn-plus fleet

Tradewinds 02 Feb 2023
... lose everything after banks moved in and began bankruptcy proceedings.
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Budget 2023: Major boost for Gujarat’s GIFT City as govt ends dual regulation

Hindustan Times 02 Feb 2023
The budget also set up a single-window IT system for registration and approval from IFSCA, SEZ authorities, GSTN, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and Insurance Regulatory Development Authority (IRDA) ... The budget has also permitted acquisition financing by IFSC banking units of foreign banks.
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Washington Trust Announces Funding Support for Northeast's Renewable Energy Projects

Victoria Advocate 01 Feb 2023
Rhode Island community bank awards loan to WindServe Marine for offshore wind development along Eastern Seaboard... 1, 2023 /PRNewswire/ --�The Washington Trust Company, the nation's oldest community bank and one of the Northeast's premier financial services companies, announced ...
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Budget extends tax neutrality to offshore funds coming to GIFT IFSC

Financial Express 01 Feb 2023
The Budget has permitted acquisition financing by IFSC banking units of foreign banks and will recognize offshore derivative instruments as valid contracts ... The Budget has permitted acquisition financing by IFSC banking units of foreign banks and will recognize offshore derivative instruments as valid contracts.
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Union Budget 2023: Tax sops for participatory notes to lure funds into Indian equity

Indian Express 01 Feb 2023
IN A move which will attract overseas inflows, the Union Budget 2023-24 exempted income distributed on offshore derivative instruments (ODIs), also known as participatory notes (P-note), entered into with an offshore banking unit of International Financial Services Centre (IFSC), GIFT City in Gandhinagar.
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Budget makes way for return of PNotes in a new avatar

Business Line 01 Feb 2023
Nearly four years after they were banned by market regulator SEBI, the controversial offshore derivatives instruments (ODIs), commonly known as Participatory Notes (PNotes), will make a comeback in India’s stock market ... “offshore derivative contracts” as valid ... Offshore havens.
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PAGCOR reviews documents submitted by POGO auditor

Manila Standard 01 Feb 2023
This followed a Manila Standard’s report that Soleil Chartered Bank issued a statement denying the issuance of a bank certification to Global ComRCI, PAGCOR’s third-party auditor for offshore gaming licensees, whose contract commenced in December 2017.
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NRIs in UAE: What are the effects of India Budget 2023 on your money?

Gulf News 01 Feb 2023
When it comes to investing in Offshore Derivative Instruments (ODIs), it’s the IFSC Banking Unit (IBU) which makes the investments in permissible Indian assets, on behalf of NRI or overseas investors ... with an offshore banking unit of an International Financial Services Centre.

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