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of <h1>Financial Institutions in International Financial Services Centres Granted Regulatory Exemption Under Specific Statutory Provisions</h1> The regulation provides an exemption for financial institutions or branches established in an International Financial Services Centre (IFSC) from the application of other regulations, subject to specific provisions of the Act and directions from the Reserve Bank of India. This creates a specialized regulatory framework that allows unique operational flexibility for IFSC-based financial entities, ensuring they are governed by distinct regulatory standards.
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