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Core Purpose

The Central Government amends S.O. 2435(E) dated 24th July, 2020, by substituting the existing entry for serial number 2 with Mr. Solomon Arokiaraj as a Member, exercising powers under section 5(1)(c) of the International Financial Services Centres Authority Act, 2019.

Detailed Summary

The Ministry of Finance, Department of Economic Affairs (Financial Market Division), issued Notification S.O. 3625(E) on 5th August, 2025. In exercise of powers conferred by section 5(1)(c) of the International Financial Services Centres Authority Act, 2019 (No. 50 of 2019), the Central Government made a further amendment to its previous notification, S.O. 2435(E) dated 24th July, 2020. This principal notification had been subsequently amended by S.O. 2427(E) dated 27th May 2022, S.O. 4408(E) dated 21st September 2022, and S.O. 5251(E) dated 11th November, 2022. The current amendment substitutes the existing entry against serial number 2 in the said Principal Notification with "Mr Solomon Arokiaraj, Additional Secretary, Ministry of Finance, Department of Economic Affairs, Government of India" as a "Member". The notification is signed by Aparna Bhatia, Economic Adviser, and references F. No. 4/1/2020-RE.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-07082025-265283 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY NEW DELHI, THURSDAY, AUGUST 7, 2025/SHRAVANA 16, 1947 MINISTRY OF FINANCE (Department of Economic Affairs) (FINANCIAL MARKET DIVISION) NOTIFICATION New Delhi, the 5th August, 2025 S.O. 3625(E). In exercise of the powers conferred by section 5(1)(c) of International Financial Services Centres Authority Act, 2019 (No. 50 of 2019), the Central Government hereby makes the following further amendment in the notification of the Government of India, Ministry of Finance, Department of Economic Affairs, number S.O. 2435(E) dated 24th July, 2020 (hereinafter referred to as the said Principal Notification), namely: - In the said Principal Notification subsequently amended vide notification number S.O. 2427(E) dated 27th May 2022, S.O. 4408(E) dated 21st September 2022 and S.O. 5251(E) dated 11th November, 2022 against serial number 2, for the existing entry, the following shall be substituted, namely: - "Mr Solomon Arokiaraj, Additional Secretary Ministry of Finance Department of Economic Affairs Government of India .Member" [F. No. 4/1/2020-RE] APARNA BHATIA, Economic Adviser Foot Note: The Principal Notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (ii) vide S.O. 2435(E) dated the 24th July, 2020 and subsequently amended vide notification number S.O. 2427(E) dated 27th May 2022 S.O. 4408(E) dated 21st September 2022 and S.O. 5251(E) dated 11th November, 2022 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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