Regulation 2 establishes the definitional framework for banking operations in an International Financial Services Centre. A Banking Unit is a licensed or permitted financial institution undertaking authorised activities. Banking Units operating as a subsidiary of a Parent Bank are IFSC Banking Companies, while those operating as branches are IFSC Banking Units. The framework also defines Parent Banks, Home Regulators, Representative Offices, Global Administrative Offices, Group entities, referral services, support services, specified foreign currencies, and subsidiary companies.

International Financial Services Centres Authority (Banking) Regulations, 2020 establish a regulatory framework for banking and investment activities in International Financial Services Centres. Made under powers conferred by the International Financial Services Centres Authority Act, 2019, the regulations take effect upon publication in the Official Gazette.

Organic grocery delivery is positioned as requiring a proof-led supply chain rather than a speed-driven quick-commerce model. Delivery convenience is intended to operate without displacing verification processes supporting organic-product claims. Batch-level laboratory testing for banned chemical and pesticide residues forms a pre-sale control within the supply chain, while QR-code access to product laboratory reports is intended to give customers traceable evidence of testing. The model combines app-based doorstep delivery with certified sourcing, manufacturing controls, residue testing and consumer-facing verification.

Bank guarantee commission paid before 1 January 2013 did not attract tax deduction requirements applicable to commission or brokerage because those requirements depend on a principal-agent relationship. A bank issuing a guarantee gives an independent undertaking to the beneficiary for consideration and acts on a principal-to-principal basis, rather than as the payer's agent. The payment is therefore a banking-service fee, not commission or brokerage subject to tax deduction. A later exemption for specified payments to banks did not change this characterisation for the earlier period. Consequently, disallowance for non-deduction of tax from bank guarantee fees was unsustainable.

Invitees at Authority meetings may be permitted where their presence is desired for advice or consultation. The Chairperson may invite such person to attend after giving prior intimation to the other members.

Event organisers and participants making taxable supplies in Delhi must obtain GST registration as casual taxable persons if not already registered there, while venue owners must ensure compliance. Casual taxable persons must register at least five days before the event and deposit estimated tax in advance. Organisers must give prior intimation at least fifteen days before the event, obtain a No Objection Certificate, disclose vendor, sponsor and venue information, issue tax invoices where applicable, cooperate with scrutiny, and submit post-event sales, payment and tax details. Exempt events also require prior intimation and an NOC.

Reimbursement of an amount equivalent to Delhi Goods and Services Tax payable and deposited on admission services for exhibition of "Super 30" is available for six months, subject to unchanged entry fees and seating capacity. Multiplex and cinema-hall owners must separately deposit the applicable State GST, apply in the prescribed form with challans, and stamp each ticket and counterfoil to indicate that SGST has not been charged. Tax already collected from viewers is not reimbursable, and reimbursement is subject to budgetary fund availability.

Meeting quorum rules permit at least two members to constitute a quorum where the Authority's total strength is below four, subject to the presence of at least one ex-officio member. The Chairperson may invite persons for advice or consultation after prior intimation to other members. Information concerning the Authority's functioning and meeting decisions may not be disclosed to the press or other public media by members, except by the Chairperson or a specifically authorised person.

Members of the International Financial Services Centres Authority must declare faithful performance of their duties and maintain secrecy concerning Authority affairs. They must not communicate information about the Authority or persons dealing with it to persons not legally entitled to receive it, or permit such communication. They must also prevent unauthorised inspection of or access to books, documents, and business information concerning persons having dealings with the Authority.

Affixation of the Authority's Common Seal requires prior authorisation through a resolution of the Authority. The seal may be affixed only in the presence of at least one member, who must sign the instrument to attest that presence. This signature is independent of any signature made by a witness to the instrument.

Regulation 15 authorises the Chairperson, whole-time members, and officers nominated by the Chairperson to act severally for the Authority in endorsing, transferring, drawing, accepting and signing negotiable instruments, securities, property title documents, accounts, receipts and other documents connected with the Authority's authorised business. Officers authorised by the Chairperson may also sign and verify pleadings, complaints, affidavits, petitions and other documents connected with legal proceedings on the Authority's behalf.

Contracts requiring writing and signature may be executed on behalf of the Authority by a member, officer, or other person acting under its express or implied authority. The same manner applies to variation or discharge of such contracts. An officer authorised by the chairperson may sign and verify documents connected with a contract. Contracts made in accordance with these requirements are valid and binding on the Authority.

The Chairperson must nominate an officer of at least Grade D as Secretary to keep custody of the common seal, attendance register, minutes book, and other meeting records. The Secretary must arrange meetings, record minutes, and ensure compliance with meeting procedure. Members may not provide information to the press or other public media concerning the Authority's functioning or meeting decisions, unless they are the Chairperson or are specifically authorised by the Chairperson.

Every member must, before assuming duties, sign the prescribed declaration of fidelity and secrecy. The declaration requires strict secrecy regarding all transactions and related matters, and prohibits disclosure of information acquired in the discharge of duties unless disclosure is required or authorised by the Authority or by law.

Member disqualification disclosure requires a member of the International Financial Services Centres Authority to inform the Authority as soon as possible upon becoming subject to any disqualification specified under section 7 of the Act. Where the Authority becomes aware that a member has incurred such disqualification, it must inform the Central Government.

Conflict-of-interest abstention requires every Authority member who is directly or indirectly concerned or interested in a matter before a meeting to disclose the nature of that interest promptly. The disclosure must be recorded in the Authority's proceedings, and the interested member must not participate in deliberations or decisions on that matter. Indirect interest includes interests held through relatives or by being a partner or director of the relevant concern.

Minutes of every Authority meeting must be maintained in designated books, which may consist of duly numbered loose-leaf binders. Copies of each meeting's proceedings must be circulated promptly to members for confirmation. Confirmed minutes must be signed at the succeeding meeting by the Chairperson or the member presiding, and must subsequently be taken on record.

Leave of absence for Authority meetings may be granted by the Authority to a member who is not present at a meeting. Every grant of such leave must be recorded in the minutes of that meeting.

Quorum for Authority meetings ordinarily requires four members. If the Authority's total strength is below four, all members may form the quorum if there are at least two members and at least one is an ex-officio member. Matters are decided by a majority of members present and voting. Where votes are equally divided, the Chairperson, or in the Chairperson's absence the presiding member, has a second or casting vote.

Authority meetings ordinarily require at least seven working days' notice with agenda papers to every member. Emergency meetings require sufficient notice to permit attendance, and decisions may be taken through circulation of an agenda. Additional business requires consent of the Chairperson or presiding member and a majority of members present. Where physical meetings are not possible, meetings and voting may occur through audio-visual and electronic means. Recorded transcripts must be retained until minutes are confirmed, and the secretariat must facilitate virtual participation.