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Banking which refers to financial intermediations performed by banks, primarily for their non-resident customers (mainly depositors) and deals with foreign money is called

ARetail Banking

BOffshore Banking

CCorporate Banking

DInvestment Banking

Answer:

B. Offshore Banking

Read Explanation:

Offshore Banking:


  • Off shore banking refers to those financial intermediation performed by banks primarily for their non-resident customers mainly depositors and deals foreign money.
  • An offshore bank is a bank located typically in a low tax area.
  • Offshore banks are mostly situated in small island nations, that are SEZ's
  • It refers to the banking operations that cover only non residents.
  • The depositors mainly located outside the jurisdiction of our country to get the benefit of liberalised regulations, tax structure, maintenance of secrecy of accounts etc.
  • In India Offshore banks started from 2003 in Special Economic Zones by Union Bank of India.



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