The International Financial Servies Centres Authority (“IFSCA”) has invited Feedbacks/ Comments/ Suggestions for Review of International Financial Servies Centres Authority (Global In-House Centres) Regulation, 2020 (herein referred as “GIC Regulation”) dated November 12, 2020 via a public consultation dated August 8, 2025.
The Intent of this public consultation is as follows:
- The IFSCA has reviewed the GIC Regulation keeping in view its outcome, and the objectives such as experience of its implementation, global best practices (if any), its relevance in the changed environment and promoting ease of doing business.
- Further, for the purposes of GIC Regulation GIC means a unit set up in the International Financial Services Centre (“IFSC”) for providing support services, directly or indirectly, to entities within its financial services group, including but not limited to banks and non-banking financial companies, financial intermediaries, investment banks, insurance companies, re-insurance companies, actuaries, brokerage firms, funds, stock exchanges, clearing houses, depositories, and custodians, for carrying out a financial service in respect of a financial product.
- GICs in India are building a strong digital talent base, positioning the India as a leading centre of digitization. GICs regulations can elevate GIFT-IFSC as a leading global FinTech and capability centre, driving employment growth.
- With the intend to have effective Global In-House Centres ecosystem in GIFT IFSC all general public, market participants and stakeholders are invited to submit comments/ suggestions on the proposed review of GIC Regulation through e-mail to Shri Kalpesh Kumar Mehta AGM, IFSCA at ancillary@ifsca.gov.in latest by 30th August, 2025 in the following format:
With the intend to have effective Global In-House Centres ecosystem in GIFT IFSC all general public, market participants and stakeholders are invited to submit comments/ suggestions on the proposed review of GIC Regulation through e-mail to Shri Kalpesh Kumar Mehta AGM, IFSCA at ancillary@ifsca.gov.in latest by 30th August, 2025 in the following format:
| Name and Details of the Person / Entity | Organisation name (if applicable) | Contact details- Phone and Email address | S. No. | Regulation No. | Sub-Regulation | Comments/ Suggestions/ Feedback | Detailed Rationale | Industry best practices comparable with the parallel jurisdictions across the globe. |
|---|---|---|---|---|---|---|---|---|
Source category: IFSC Insurance Office
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