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    <title>Powers of Reserve Bank not to apply to IFSC [ Section 44A ]</title>
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    <description>Section 44A excludes the Reserve Bank&#039;s powers under FEMA from applying to an IFSC and assigns regulation of financial products, services and institutions permitted in an IFSC to the International Financial Services Centres Authority, operating notwithstanding any other law; remittance treatment to IFSCs under the Liberalised Remittance Scheme is referenced via a central bank circular reviewing LRS guidelines.</description>
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