Securities and Exchange Board of India (“SEBI”) vide its circular dated 21 August 2020, incorporated a new clause 8 (3) in SEBI (International Financial Services Centers ) Guidelines, 2015, stating that an entity whether based in India or outside India, may provide financial services in IFSC provided that such entity should comply with the relevant regulatory framework or guidelines as specified by the board from time to time.
The circular can be accessed from here.
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