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The International Financial Services Centres Authority directs all Banking Units to conduct SWIFT operations from the International Banking Unit located in GIFT City, Gandhinagar. The Banking Unit must assign maker and checker roles to its own staff to protect data confidentiality. The Banking Unit must complete this action by 31st March 2022. The Banking Unit must also confirm compliance with the previous circular on implementing an 8-digit distinct BIC SWIFT Code by sending an email to the Banking Supervision Division.
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[Image omitted. See the official document.]
CIRCULAR
F. No.293/IFSCA/Banking Supervision/2021-22/2
Date: 04th Jan 2022
To, All Banking Units IFSC, GIFT City, Gandhinagar
Dear Sir/Madam,
Sub: SWIFT Operations
This refers to the IFSC (Banking) Regulations, 2020 dated 18th November 2020 and IFSCA Circular F. No. 293/IFSCA/Banking Supervision/2021-22/ dated April 21, 2021 & Circular F. No. 293/IFSCA/Banking Supervision/2021-22/1 dated June 24, 2021.
IBUs are advised to acknowledge the same and confirm compliance of the IFSCA Circular F. No. 293/IFSCA/Banking Supervision/2021-22/1 dated June 24, 2021, regarding implementation of 8-digit distinct BIC SWIFT Code for the IBUs to Banking Supervision Division to e-mail ids ibu-reports@ifsca.gov.in, with a copy to the concerned Officer.
Yours faithfully
(Kumar Raghuraman) General Manager rag.kumar@ifsca.gov.in
