Promotion, upgradation and switchover are governed by applicable policies, with a minimum three-year service requirement for promotional consideration. Promotions against sanctioned vacancies are based on seniority, merit and suitability for officers, and seniority-cum-fitness for Multi-Tasking Staff. Qualified Multi-Tasking Staff may seek switchover to Grade A officer positions through a departmental test and interview. Departmental Promotion Committee recommendations preserve feeder-grade seniority for employees found fit, while an employee superseded by a junior cannot later claim seniority over that junior.

Direct recruits and employees entering the officer cadre through internal switch-over ordinarily rank by their selection-batch ranking. Absorbed deputationists rank from their date of joining on deputation and may be absorbed only in their initial deputation grade. Deputation service in the Authority counts for seniority and promotion, but prior parent-organisation service does not count for seniority. Leave without pay ordinarily counts unless excluded by a recorded direction, and an annual seniority list must be circulated.

Record-of-service maintenance requires the Authority to keep a service record for every employee. Records must be maintained at the place or places determined for that purpose and must follow the form and include the information specified by the Competent Authority. The framework assigns responsibility for prescribing the record's format and informational content to the Competent Authority.

The Authority may require employees to execute undertakings or bonds for payment of liquidated damages relating to expenses incurred on deputation, training or higher studies, or failure to complete the required service period in a specified post. The required period and applicable bond conditions may be determined by the Authority from time to time.

Employees superannuate at 60 years, ordinarily on the last day of the month in which that age is attained. The Competent Authority may retire eligible employees after 90 days' written notice and an opportunity for written submissions. Employees meeting the prescribed age or service threshold may voluntarily retire with 90 days' written notice, and a voluntary retirement scheme may be offered to whole-time employees. Unavailed earned ordinary leave, up to 300 days, may be taken subject to conditions or encashed with applicable pay and allowances.

Employee resignation or discontinuance requires prior written notice: 90 days for regular employees and employees on probation after promotion, and 30 days for other probationers. Earned leave cannot be set off against notice, which is proper only if the employee remains on duty. Early relief may require compensation equal to substantive pay for the unserved period. Resignation is effective only upon acceptance, which may be refused for disciplinary matters, unexpired service obligations, outstanding dues, or other recorded sufficient grounds.

Service of an employee commences, except where otherwise provided under the regulations, on the working day when the employee reports for duty in the appointment at the place and time communicated by the Competent Authority. Reporting for duty in the afternoon postpones commencement until the following working day and makes actual reporting determinative.

Direct appointees serve two years' probation and promoted employees serve one year, subject to the Chairperson's power to extend, reduce, or dispense with probation for recorded reasons. Successful completion results in deemed confirmation unless otherwise provided. Direct recruits and contract appointees may be discharged on prescribed notice or pay in lieu during probation. Existing employees selected through direct recruitment may be reverted to their previous grade without notice or pay in lieu for unsatisfactory probationary performance.

Re-employment in the Authority requires its specific sanction and is subject to terms and conditions it specifies. A person removed, dismissed, or compulsorily retired on grounds of moral turpitude cannot be re-employed. Unless otherwise determined at re-employment, the service regulations apply as though the re-employed person entered service for the first time on that date.

Appointment on deputation requires pay fixation protecting the employee's last drawn pay in the parent organisation. Similar pay structures may permit one additional increment, while dissimilar structures may require consideration of prior total emoluments to provide reasonable protection. The Competent Authority may exceptionally grant up to four additional increments in the applicable grade pay scale, having regard to the relevant appointment-related factors.

Initial appointments must be made at the minimum pay applicable to the relevant grade. The Competent Authority may exercise discretion to grant up to four additional increments within the corresponding pay scale based on higher academic qualifications, special experience that adds value, or total emoluments received in previous employment.

Contractual appointments may be made where work exigencies require, subject to directions and service conditions that are not more favourable than those for equivalent appointments. Employees in Grade B and above may be taken on deputation where internal candidates are unavailable, with possible permanent absorption after two years at the Competent Authority's discretion. Executive Director appointments on contract or deputation require prior approval before an offer is issued.

Whole-time employee recruitment follows Schedule-I conditions on recruitment mode, qualifications, age, experience and related matters. Officers are ordinarily appointed at entry-level Grade A, while higher-grade recruitment is limited to unavailability of suitable internal candidates or work exigencies. Selection is through competitive examination, with no interview or group discussion for Multi-Tasking Staff. Procedural relaxation requires recorded reasons and must preserve fairness, transparency and merit-based selection. Executive Director appointments require approval before an offer is issued.

Whole-time employees are classified as Officers in Grades A to F and Executive Director, and Multi-Tasking Staff in Grades A to C. Pay is specified for each post or group of posts. Posts at Executive Director level require approval by the Authority, while the Chairperson sanctions posts up to Grade F. Appointments are made by the appointing authority, with no right to appointment to any particular post or grade.

Regulation 5 vests implementation powers in the Chairperson, including authority to issue administrative instructions needed to give effect to the service regulations and secure effective human-resource management. Powers of a Competent Authority are also exercisable by a superior authority. The Authority may waive or relax strict application of the regulatory provisions at its discretion.

Chairperson's power of delegation permits the Chairperson to delegate all or any powers conferred upon her under employee service regulations to a whole-time member, Executive Director, Committee of Executive Directors, or any Officer of the Authority. Delegation may be made subject to conditions determined by the Chairperson, allowing allocation of specified functions within the scope and limitations set by those conditions.

Employee service administration is defined through concepts of absorption, appointment and disciplinary authority, deputation, external assignment, duty, service, leave pay and remuneration. Deputation entails remuneration being borne by the borrowing organisation, while an external assignment entails remuneration being borne by the Authority. Substantive pay is limited to basic pay for the substantive post and excludes special pay, personal pay and allowances. Service excludes unauthorised absence or leave overstay unless specifically permitted, and gendered expressions apply inclusively where context permits.

Employee-service coverage extends to persons appointed under the specified statutory power, including employees on deputation and contract-based employees. The Competent Authority may set additional deputation terms, either independently or with the lending organisation, subject to consistency with the employee-service framework and applicable deputation policy. Such terms bind the deputationist upon acceptance. Temporary employees and persons engaged under arrangements not expressly covered are excluded unless coverage is specifically provided or determined by the Authority.

International Financial Services Centres Authority (Employees' Service) Regulations, 2026 are made by the Authority under subsections (1) and (2) of section 11, read with section 28, of the International Financial Services Centres Authority Act, 2019. Their stated short title identifies them as employee-service regulations. Commencement is fixed as the date of publication in the Official Gazette. Legal operation therefore begins on that publication date.

Trial in a PMLA matter received a further two-month extension, based on reasons recorded in the Special Judge's letter, for conclusion of the proceedings. The subject matter also concerns enlargement on bail, alleged non-compliance with re-arrest procedure, prosecution reliance on a confessional statement, and allegations of habitual offending and misuse of bail. Prosecution evidence had been directed to conclude within six months, and the miscellaneous application was disposed of.