The Reserve bank of India vide notification dated 7th January 2020 has amended the Foreign Exchange Management (International Financial Services Centre) Regulations, 2015.
The Amendment is brought under Regulation 4 of the IFSC norms in which the RBI permits the financial institutions or a branch of a financial institution to, with express permission of RBI, conduct such business in Indian Rupee with such persons whether resident or otherwise as it may determine.
Click here to read the Notification.
