What does OCBS mean? What is the full form of OCBS?
The Full Form of OCBS is Overseas corporate bodies.
Overseas Corporate Body (OCB) means a company, partnership firm, society and other corporate body owned directly or indirectly to the extent of at least sixty per cent by Non-Resident Indians and includes overseas trust in which not less than sixty percent beneficial interest is held by Non-resident Indians directly or indirectly but irrevocably, which was in existence as on September 16, 2003 and was eligible to undertake transactions pursuant to the general permission granted under Foreign Exchange Management Regulations. RBI has banned OCBs (Overseas Corporate Bodies) from investing under the Portfolio Scheme that is solely for the benefit of NRIs.
OCBS
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Overseas corporate bodies
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