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Operational guidelines on International Financial Services Centre (IFSC)

FEMA - 92 - Dated:- 31-3-2015 - RBI/2014-15/530 A.P. (DIR Series) Circular No.92 March 31, 2015 To All Category - I Authorised Dealer Banks Madam/ Sir, Attention of Authorised Dealers Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (International Financial Services Centre) Regulations 2015 dated March 2, 2015, a copy of which is at Annex. 2. In terms of the above Regulations, a financial institution or a branch of a financial institution set up in the IFSC and .....

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egotiating any bills of exchange or promissory note, transferring any security or acknowledging any debt. Similarly, financial service shall mean any activity which a financial institution is permitted to carry on by the Respective Act of the Parliament or Government of India or any Regulatory Authority empowered to regulate the concerned financial institution. 4 It may be noted that subject to the provisions of Section 1 (3) of Foreign Exchange Management Act, 1999, nothing contained in any oth .....

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