Good afternoon. I am delighted to be here at the Global Fintech Fest once again. Over the years, this platform has evolved beyond being an industry conference to a forum where policymakers, regulators, innovators, financial institutions, entrepreneurs and academia come together to exchange ideas that will shape the future of finance. 2. Let me begin by complimenting the organisers - the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council ... ... ...

148. (1) On and from the commencement of these regulations, the International Financial Services Centres Authority (Fund Management) Regulations, 2022, shall stand repealed. (2) On and from the commencement of these regulations, the following circulars issued by the Authority shall stand superseded: a. IFSCA Circular No. IFSCA-IF-10PR/1/2023-Capital Markets/4 issued on July 25, 2024; and b. IFSCA Circular No. IFSCA-IF-10PR/1/2023-Capital Markets/5 issued on October 29, 2... ... ...

CHAPTER XII MISCELLANEOUS 147. The powers exercisable by the Authority under these regulations shall also be exercisable by any officer of the Authority to whom such powers are delegated by the Authority. =============... ... ...

146. (1) For the purposes of implementation of these regulations and matters incidental thereto, the Authority may specify norms, procedures, processes, additional requirements, etc. by way of circulars, guidelines or directions. (2) In order to remove any difficulties in the interpretation or application of the provisions of these regulations, the Authority may issue directions through guidance notes or circulars. =============... ... ...

145. (1) The Authority may, exempt any person or class of persons from the operation of all or any of the requirements under these regulations for a period as may be specified but not exceeding eighteen months, for furthering innovation in aspects relating to testing new products, strategies, processes, services, business models, use of technology, etc. in live environment of regulatory or innovation sandbox in the financial markets: Provided that any experiment in a scheme towards a new ... ... ...

CHAPTER XI POWER TO RELAX, ISSUE CLARIFICATIONS AND SPECIFY ADDITIONAL REQUIREMENTS 144. (1) The Authority, for reasons to be recorded in writing, may in the interest of development of financial market in IFSC, relax the strict enforcement of any requirements of these regulations. (2) For seeking relaxation under sub-regulation (1), an application giving details and the grounds on which such relaxation has been sought, shall be filed with the Authority along with a non-refundable fe... ... ...

CHAPTER X LIABILITY FOR ACTION IN CASE OF DEFAULT 143. The Authority may take such action as deemed fit, including suspension or cancellation of registration, against a FME if it :- (a) fails to exercise due diligence or comply with any conditions subject to which a certificate of registration has been granted; (b) contravenes any of the provisions of the Act or rules or regulations or circulars or guidelines or directions or instructions issued thereunder; (... ... ...

142. . The Authority may, after consideration of the inspection report and after giving reasonable opportunity of being heard to the FME and/ or its partner, designated partner, trustee, director, chairperson, CEO, KMPs, and any agent, etc., issue such direction as it deems fit in the interest of financial market or the investors, including directions in the nature of :- (a) requiring FME not to launch new schemes or raise money from investors for a particular period; (b) pr... ... ...

NICDC Holds B2B Meetings with Russian, BRICS Delegates and Investors to Explore Manufacturing Partnerships Union Minister of Commerce and Industry Shri Piyush Goyal and Minister of Industry and Trade of the Russian Federation Mr. Anton Alikhanov visited the National Industrial Corridor Development Corporation Limited (NICDC) pavilion at Bharat Mandapam, New Delhi, on the second day of INNOPROM India 2026, following their bilateral meeting, as part of their walkthrough of the exhibition. Th... ... ...

141. The Inspecting Authority shall submit the inspection report to the Authority, and the Authority may take such action as it may deem fit and appropriate, on such report: Provided that if directed to do so by the Authority, the Inspecting Authority may submit an interim report. =============... ... ...

Brussels, Sep 11 (PTI) The European Commission on Friday formally submitted its proposal to the European Council to sign and conclude the Free Trade Agreement with India, marking a major step toward implementing the ambitious pact - widely termed the "mother of all deals". If authorised by the Council, this will be the largest trade agreement ever concluded by both the EU and India. India and the EU announced the conclusion of the FTA in January, marking a historic milestone in their econo... ... ...

140. (1) The Authority may appoint an auditor to inspect the books of account, records, documents infrastructures, systems and procedures or affairs of an FME: Provided that the auditor so appointed shall have the same powers of an inspecting authority: Provided further that a FME and its employees shall have the same obligations towards the auditor as they have towards the Inspecting Authority as specified under regulation 139. (2) The Authority may appoint a valuer to value the sc... ... ...

139. (1) Where an inspection of a FME is undertaken by the Authority, such FME and every principal officer, partner, designated partner, trustee, director, chairperson, CEO, KMPs, officer, employee and any agent, etc., of the FME shall provide all assistance and cooperate with the Inspecting Authority and shall furnish books of accounts, records and documents to the Inspecting Authority with such statements and information relating to its activities within such time as decided by the Inspect... ... ...

CHAPTER IX INSPECTION AND AUDIT 138. (1) The Authority may suo motu or upon receipt of information or complaint at any time appoint one or more persons as Inspecting Authority to undertake the inspection of the books, accounts, records, documents, infrastructure, procedures, systems of a FME or any other entity associated with the activities under these regulations for any purpose or to investigate the affairs of schemes and activities as detailed under these regulations including the ... ... ...

Shri Piyush Goyal Highlights Opportunities to Expand India's Exports to Russia Across Pharmaceuticals, Auto Components and Food Products Shri Goyal Invites Russian Businesses to Utilize India's Plug-and-Play Industrial Corridors to Manufacture in India   Union Minister of Commerce and Industry Shri Piyush Goyal called for an accelerated India-Russia economic and industrial partnership, urging businesses from both countries to work towards achieving the target of $100 billion in bil... ... ...

137. The FME shall not undertake any business activities other than as specified under these regulations, without prior approval of the Authority: Provided that a FME operating in the form of branch in an IFSC shall inform the Authority within fifteen (15) days regarding any approval obtained from the sectoral regulator in its principal place of operations, if the activity it intends to conduct outside IFSC requires such specific approval. Provided further that FME intending to open a ... ... ...

Investor disclosure obligations require the FME to provide information on investors' scheme holdings at each month-end and within ten working days of an investor's request. Fiduciaries must disclose information essential to keep investors informed where it may adversely affect their investments. These requirements establish periodic and request-based holding information.

Every scheme launched by an FME must have its annual statement of accounts audited by an auditor independent of the FME. Fiduciaries appoint the auditor, receive the audit report, and ensure that the report forms part of the scheme's Annual Report.

Regulation 134 requires a Fund Management Entity to prepare an annual report of accounts and abridged summary for each scheme and submit both within four months after the financial year ends. The reports must contain sufficient details to provide a true and fair view of scheme operations. Investors must receive the abridged summary within the same period, while a requested full annual report must be supplied within fifteen days.

Redemption of close-ended schemes requires full redemption at the end of the maturity period unless the scheme's tenure has been extended in accordance with the applicable regulations.