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Banking Services to SEZ Units out of Tax Net

The Central Board of Excise and Customsreport -"Indian Banking Sector Analysis
(CBEC) has confirmed the government decision(2006-2007)", talks about the emerging
of exempting banking services to unitsprospects of the Banking sector in India. As
positioned in any of the special economicper views by a senior research analyst at
zones from payment of service tax. TheRNCOS -"the burgeoning economic activity and
confirmation was made in response to theencouraging prospects of growth in SEZs such
query raised by Indian Banks Associationas exemption from CRR (cash reserve ratio)
(IBA). This comes as a welcome relief bothand SLR (statutory liquidity ratio) and other
for the banks and the promoters of SEZs. Evenstatutory pre-emptions, will fuel the
though there was perceptible rush among banksbusiness of OBUs." It's also predicted that
for setting up OBUs (offshore banking units)since OBUs will observe international lending
in SEZs, the trend is limited to sectorsrates, service-based revenue will increase
governed by the crypts and troughs of theconsiderably. This report throws light on
global economy, such as commodity export. Thecertain critical aspects of the banking
global commodity export prices had earliersector environment through: · Insights
seen a significant downturn and that hadinto the trends in Indian Banking Sector.
consequently affected the business of OBUs.· Pinpointing factors driving growth. ·
This had been a major reason why RBI hasAssessing the opportunities, strategies and
decided to limit license allotment to bankschallenges in the Indian Banking Sector. ·
to set up OBUs in SEZs. Earlier tax onIdentifying brand leaders and understanding
banking services had been raised to 12% fromthe competitive environment · The services
10%. This includes essentially money transferdriving Banking Sector in India. The report
through different modes like electronic fundfurther provides extensive research and
transfer and banking services to issuers ofobjective analysis on the growing banking
capital market instruments. RNCOS' recentsector services in India.



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