Implementation of Provisions of the Banking Laws (Amendment) Act, 2025
IFSCA circular IFSCA-FMPP0BR/35/2025-Banking · 12 Dec 2025
IFSCA circular IFSCA-FMPP0BR/35/2025-Banking · 12 Dec 2025
Summary
Check the official recordThe International Financial Services Centres Authority (IFSCA) has issued a directive to all Banking Units (IBUs) regarding the implementation of the Banking Laws (Amendment) Act, 2025. This follows a notification from the Department of Financial Services, which appointed November 1, 2025, as the effective date for sections 10, 11, 12, and 13 of the Act. Banking Units are formally instructed to ensure full compliance with these specific provisions. The directive is issued under the authority granted by the IFSCA Act, 2019, and the Banking Regulation Act, 1949.
What you must do
Key dates
Who is affected
e-File. No. IFSCA-FMPP0BR/35/2025-Banking
December 12, 2025
To All Banking Units
Dear Sir/Madam,
Subject: Implementation of provisions of the Banking Laws (Amendment) Act, 2025
Attention of IBUs is drawn to the notification no.S.O. 4789 (E) of Department of Financial Services dated October 22, 2025, appointing November 1, 2025, as the date for coming into force of the provisions of sections 10, 11, 12 and 13 of the Banking Laws (Amendment) Act, 2025 (16 of 2025). (“the Act”).
IBUs are directed to ensure compliance with the provisions of the Act.
These directions are issued in exercise of the powers conferred on the Authority by Section12 and Section 13 of the IFSCA Act, 2019 read with Section 35A of the Banking regulation Act, 1949.
Yours faithfully
(Supriyo Bhattacharjee) Chief General Manager Department of Banking