Amendment to circular dated January 17, 2025 on the subject-‘ list of public holidays and banking business hours for IBUs’

[Image omitted. See the official document.]

CIRCULAR

F No. IFSCA-FMPP0BR/5/2025-Banking/2

Date: April 11, 2025

To,

All IFSC Banking Units

Madam/ Sir,

Subject : Amendment to circular dated January 17, 2025 on the subject-‘ list of public holidays and banking business hours for IBUs’

1. Reference may be drawn to circular dated January 17, 2025 on the subject-‘ list of public holidays and banking business hours for IBUs’ (hereafter referred to as ‘Circular’)

2. It is hereby decided to make the following amendment to the Circular:

• a. Clause 2 of the Circular shall be substituted by the following, namely: “The banking business hours of IBUs shall be from 10:00 a.m. to 5:00 p.m. during working weekdays and working Saturdays”

3. This circular is issued in exercise of powers conferred by Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres.”

4. The above circular shall come into effect on immediate basis.

Yours faithfully

Sd/-
(Supriyo Bhattacharjee)
Chief General Manager
Head -Department of Banking