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Core Purpose

Notification of the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2024, amending the First Schedule to the International Financial Services Centres Authority (Banking) Regulations, 2020 to add four additional currencies.

Detailed Summary

IFSCA/GN/2024/004, issued by the International Financial Services Centres Authority, Gandhinagar, dated 4 July 2024, exercises powers under sub-section (1) of section 28 read with sub-section (1) of section 12 and sub-section (1) of section 13 of the International Financial Services Centres Authority Act, 2019 to make the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2024, effective from the date of publication in the Official Gazette, further amending the International Financial Services Centres Authority (Banking) Regulations, 2020. The amendment inserts four new item numbers (xii to xv) after existing item "xi" in the First Schedule to the 2020 Regulations, adding the Swedish Krone (SEK), Norwegian Krone (NOK), New Zealand Dollar (NZD) and Danish Krone (DKK) to the list. The notification is signed by K. Rajaraman, Chairperson, under advertisement number ADVT.-III/4/Exty./281/2024-25.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-GJ-E-12072024-255365 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 512] NEW DELHI, THURSDAY, JULY 11, 2024/ASHADHA 20, 1946 4170GI/2024 (1) THE GAZETTE OF INDIA: EXTRAORDINARY [PART III—SEC.4] INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 4th July, 2024 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY (BANKING) (AMENDMENT) REGULATIONS, 2024 IFSCA/GN/2024/004.—In exercise of the powers conferred by sub-section (1) of section 28 read with sub- section (1) of section 12 and sub-section (1) of section 13 of the International Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following regulations further to amend the International Financial Services Centres Authority (Banking) Regulations, 2020, namely: 1. (1) These regulations may be called the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2024. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the International Financial Services Centres Authority (Banking) Regulations, 2020, after the item number "xi" in the First Schedule the following item numbers shall be inserted, namely, "xii. Swedish Krone (SEK) xiii. Norwegian Krone (NOK) xiv. New Zealand Dollar (NZD) xv. Danish Krone (DKK) " K. RAJARAMAN, Chairperson [ADVT.-III/4/Exty./281/2024-25]

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