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of <h1>India Outlines Steps to Set Up IFSC Unit in SEZ: Application, Approval, and Compliance.</h1> The notification outlines the procedure for establishing an International Finance Service Centre (IFSC) unit in a Special Economic Zone (SEZ) in India. Entrepreneurs must submit an application with required documents, including a demand draft, project report, and various legal and financial documents, to the Development Commissioner. The Approval Committee, or the Development Commissioner if the committee is not constituted, reviews applications within fifteen days. Upon approval, a Letter of Approval (LOA) is issued, valid initially for one year. The unit must execute a Bond-Cum-LUT and a lease deed, comply with SEZ regulations, and maintain financial records.
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