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Corporate Laws Central Ministry of Finance International Financial Services Centres Authority Act, 2019

IFSCA issues International Financial Services Centres Authority (Payments Regulatory Board) Regulations, 2025

12-Sep-2025 | IFSCA/GN/2025/008

IFSCA has notified the International Financial Services Centres Authority (Payments Regulatory Board) Regulations, 2025, to regulate and supervise payment systems within IFSC. These regulations aim to establish a robust regulatory framework that ensures transparency, efficiency, and effective oversight of payment system operations in the International Financial Services Centres. Key Highlights of the Regulations: a. Composition of the Board- The Board shall comprise official members from the Reserve Bank of India (RBI). A Member of the Board nominated shall hold office for a period of four years and shall not be eligible for re-nomination. b. Board shall be assisted by the Division of Payment and Settlement Systems, International Financial Services Centres Authority, which shall report to the Board. c. The Board shall hold the meeting at least twice in a year with 3 members, which shall include the Chairperson, and members shall be given sufficient notice to enable them to attend the meetings. The meetings shall be presided over by the Chairperson. d. The Board may constitute Committee(s) for providing assistance or advice in the performance of its functions which have the power to invite persons with experience in the field of payment and settlement systems to attend the meetings of that Committee as invitees Please refer to the attached document for more information.

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