The International Financial Services Centres Authority vide its notification dated 25th March 2021 has published the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2021 to further amend the, International Financial Services Centres Authority (Banking) Regulations, 2020.
The Amendment is brought under regulation 13 which notifies permitted activities in which the banking unit may undertake to offer Portfolio Management services to person resident in India and person’s resident outside India and shall offer Investment Advisory services to person resident in India and person’s resident outside India.
