Operational guidelines on International Financial Services Centre (IFSC)

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....he 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 permitted / recognised as such by the Government or a Regulatory Authority shall be treated as person resident outside India. Therefore....

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....Foreign Exchange Management Act, 1999, nothing contained in any other Regulations shall apply to a financial institution or a branch of a financial institution set up in an IFSC unless there is some express and specific provision to that effect in the Foreign Exchange Management (International Financial Services Centre) Regulations 2015 or the other Regulations. 5. AD Category - I banks may bring....