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.

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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.”

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