Amendments to conditions for opening a GAO or RO
F.No.110/IFSCA/Banking Regulation/2023-24/3 November 2, 2023 CIRCULAR To, All Banking Units Dear Sir/Madam, Subject : Amendment to IFSCA Banking Handbook - Conditions for opening a Global Administrative Office (GAO) and Representative Office (RO) 1. Please refer para 3.iii of Module 12 (REPO) and para 4.vii of Module 1…
Source details
- Source
- International Financial Services Centres Authority
- Type
- circular
- Document date
- 01 Nov 2023
- Last checked
- 10 Jul 2026, 5:16 pm IST
- Coverage area
- gift-ifsc
Document text
F.No.110/IFSCA/Banking Regulation/2023-24/3 November 2, 2023 CIRCULAR To, All Banking Units Dear Sir/Madam, Subject : Amendment to IFSCA Banking Handbook - Conditions for opening a Global Administrative Office (GAO) and Representative Office (RO) 1. Please refer para 3.iii of Module 12 (REPO) and para 4.vii of Module 17 (GAO) of the IFSCA Banking Handbook Conduct of Business (COB) directions v 5.0 (Banking Handbook). 2. The contents of the abovementioned para(s) shall be replaced by the following with immediate effect : “The Banking company’s track record in complying with Anti-Money laundering/Combating the financing of terrorism (AML/CFT) guidelines in its home jurisdiction.” 3. These conditions shall be incorporated in the IFSCA Banking Handbook during the next amendment/updation of the Handbook. Yours faithfully (Supriyo Bhattacharjee) Chief General Manager Department of Banking Regulation and Development
Research the source law
Find the provision behind this update.
This record is not yet linked to a specific provision. Browse the law library, choose the affected provision and ask against the exact statutory text.
Browse source lawsRelated IFSCA updates
- Framework on capital relief and prudential requirements for factoring transactions
- Amendment to the Circular titled “Master Circular for Credit Rating Agencies in the IFSC"
- Amendment to the Circular titled Internet banking services to clients of IBUs –Review
- Amendment to the Circular titled “Exempting certain entities/activities from the applicability of International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022
- Amendment to the Circular titled “Permissible transactions through the Special Non-Resident Rupee (SNRR) accounts of IFSC units – Amendment