Banking Units must comply with Know Your Customer norms, counter-terrorism financing measures, anti-money laundering requirements and related reporting obligations issued by the Reserve Bank, except where the Authority specifies otherwise.

Banking Units may undertake lending, trade finance, inter-bank transactions, investments, export receivables financing and equipment leasing, subject to applicable conditions and risk-management guidelines. They may enter specified derivative transactions, including over-the-counter, listed INR, gold hedging and non-deliverable currency contracts. Banking Units may also operate as Foreign Portfolio Investors subject to registration or intimation requirements, offer segregated nominee accounts, and act as trading or professional clearing members for derivative segments.

Foreign currency account transactions prohibit cash transactions. Freely convertible foreign currency accounts may be opened, held and maintained with a Banking Unit as current, savings or term-deposit accounts for individuals, and as current or term-deposit accounts for other account holders, subject to specified conditions.

Foreign currency accounts with a Banking Unit may be opened, held and maintained by Qualified Individuals and by resident or non-resident corporate or institutional entities, subject to the manner or requirements specified by the Authority. Qualified Resident Individuals may maintain freely convertible foreign currency accounts for transactions connected with, or arising from, permissible current account transactions, capital account transactions, or both, as specified under the Liberalised Remittance Scheme.

Banking business in an International Financial Services Centre must ordinarily be conducted in freely convertible foreign currencies with persons specified by the Authority, whether resident or non-resident. INR-denominated business may be permitted with specified persons only where the related financial transaction is settled in freely convertible foreign currency.

Lender of Last Resort support is unavailable to a Banking Unit under Regulation 9 of the International Financial Services Centres Authority (Banking) Regulations, 2020.

Banking Unit liabilities, except deposits raised from Qualified Individuals and Qualified Resident Individuals, are exempt from Cash Reserve Ratio and similar reserve requirements. Deposits raised from those categories remain subject to reserve ratios specified by the Authority.

Exposure ceilings applicable to a Banking Unit restrict exposure to a single borrower to five percent of the Parent Bank's Tier 1 capital and exposure to a borrower group to ten percent of that capital. These prudential limits regulate credit concentration by linking permissible single-borrower and group exposure to the Parent Bank's Tier 1 capital.

Banking Units must maintain a leverage ratio in accordance with prudential norms and guidelines specified by the Authority from time to time. The requirement is an ongoing regulatory compliance obligation, and applicable standards are determined through the Authority's leverage-ratio framework and subsequent directions.

Banking Units must maintain the Liquidity Coverage Ratio, although permission may allow the Parent Bank to maintain it. The Net Stable Funding Ratio applies when determined by the Authority and must then be maintained by the Banking Unit, subject to permitted maintenance by the Parent Bank.

Banking Units in an International Financial Services Centre must comply with prudential norms and guidelines prescribed by the Authority. They must also continue to follow Reserve Bank of India directions and instructions applicable to IFSC Banking Units, unless the Authority specifies otherwise.

Indian and foreign banks require an Authority licence to establish a Banking Unit in an International Financial Services Centre. The Parent Bank must apply as prescribed, maintain the required starting capital on an unimpaired basis, obtain home-regulator clearance, and undertake to provide liquidity when needed. Foreign banks without an Indian presence are subject to an additional mechanism. Licensing may carry further conditions, with an opportunity for written submissions before a reasoned rejection. Each Parent Bank may establish only one Banking Unit in each International Financial Services Centre as a branch, while Representative Offices remain subject to specified conditions.

Regulation 2 establishes defined terms governing Banking Units in an International Financial Services Centre. A Banking Unit is a licensed financial institution undertaking permissible activities, while units set up by foreign and Indian banks are classified as Foreign Bank Units and Indian Bank Units. Qualified Individuals and Qualified Resident Individuals must meet the prescribed residency status and net-worth threshold. Expressions not defined are assigned meanings under the governing Act, scheduled enactments, and related rules or regulations.

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 fees paid to a bank for its commitment and related services arise on a principal-to-principal basis and do not constitute commission or brokerage where no principal-agent relationship exists. Consequently, tax was not deductible at source from such payments under Section 194H, and the related disallowance was deleted. A subsequent notification exempting specified bank guarantee payments did not change the position for the payment under consideration.

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.

Organisers and participants in specified events in Delhi must obtain GST registration and discharge applicable tax liabilities. Unregistered persons must register as Casual Taxable Persons at least five days before the event and deposit advance tax equivalent to estimated liability. Existing GST registrants must add the event venue as an additional place of business or obtain CTP registration. Organisers and venue owners are jointly and severally responsible for compliance, while organisers must provide prior intimation, obtain an NOC, disclose vendor and sponsor details, issue tax invoices where applicable, and submit post-event tax and sales information.

Reimbursement of Delhi GST deposited on admission services for the exhibition of "Super 30" is subject to unchanged entry fees and seating capacity, separate deposit of State GST through prescribed challans, and submission of a prescribed application with challan copies. Tickets and counterfoils must carry an endorsement that SGST has not been charged. The facility is available for six months, excludes tax already collected from viewers, and 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.