Consultation paper on the proposed International Financial Services Authority(Payment and Settlement Systems) Regulations, 2024

IFSCA has issued a Consultation paper on the proposed International Financial Services Authority
(Payment and Settlement Systems) Regulations, 2024. The objective of this consultation paper is to seek comments/views/suggestions from the public on the proposed International Financial Services Authority (Payment and Settlement Systems) Regulations, 2020.

The Regulations, inter alia, proposes to:

1. Lay down the procedure for applying to the Authority to set up a Payment System in IFSC and the format of such application.
2. Specify the factors that would be considered by the Authority while taking a decision on granting such authorisation.
3. Procedure for seeking exemption from authorisation and how such application would be processed.

General public and stakeholders are requested to forward their comments/suggestions through e-mail to Mr. Supriyo Bhattacharjee at supriyo.b@ifsca.gov.in and Mr. Vaibhav Sattavan at vaibhav.sattavan@ifsca.gov.in on or before June 28, 2024.