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State Bank of India has opened the first Offshore Banking Unit (OBU) in India at the SEEPZ
Special Economic Zone, New Bank Building, Andheri (East) Mumbai 400,096 on 17th July
2003 - another landmark in the history of India's Financial Sector. Subsequently we have set up
another OBU in Special Economic Zone, Kochi, CEPZ Administrative Building, Kakanad Kochi
on 17th April 2004.

o The OBU will be deemed as an overseas branch of the Bank and undertake the following
o Raise funds in convertible foreign currency as deposits and borrowings from Non
Residents sources.
o Transact in foreign exchange with residents in India who are eligible to enter into or
undertake such transactions in terms of various Rules and Regulations as framed under
Foreign Exchange Management Act, 1999.
o Open foreign currency accounts abroad as well as with other OBUs in India
o Trade in foreign currencies in the overseas market and also with banks in India where
both legs of the transactions are denominated in foreign currencies.
o Provide customised loan and liability products for the benefit of clients
o Maintain Special Rupee account with an Authorised Dealer in India out of the convertible
foreign exchange resources for meeting local expenses
o Buy Rupees from an Authorised Dealer in India to fund the Special Rupee Account.

Contact details:
Phone Nos: +91 22 28292944/28291303
Phone Nos: +91 484 2413287