The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat. The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India. At present, the GIFT IFSC is the maiden international financial services centre in India. Prior to the establishment of IFSCA, the domestic financial regulators, namely, RBI, SEBI, PFRDA and IRDAI regulated the business in IFSC. IFSCA, vide its Circular dated November 12, 2021, had issued guidelines and directions for conduct of business by IBUs in form of a comprehensive Hand Book, which will act as a compendium of all the detailed directions of the Authority to the IBUs operating in GIFT IFSC and to the Banking Companies incorporated in India or outside India looking to set up an IBU as a branch in GIFT IFSC with effect from April 1, 2022. Accordingly, GIFT-IBU follows the directions as mentioned in the Hand Books published by IFSCA and complying its regulatory guidelines

For more details you may visit the official website of IFSCA as below https://ifsca.gov.in/Home