The Securities and Exchange Board of India (SEBI) on August 21, 2020 has issued a circular to amend the Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015.
The following amendments have been made in the Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015:
• A new clause 8(3) has been inserted, specifying the provision of financial services by an Indian or a foreign entity, namely:
“An entity, based in India or in a foreign jurisdiction, may provide financial services in IFSC, subject to compliance with the applicable regulatory framework/ guidelines for such financial services, as specified by the Board, from time to time.”
[Circular No. SEBI/HO/MRD1/DSAP/CIR/P/2020/155]
