Download or read book Taxmann's Analysis | The Landscape of IFSC Banking – Regulatory Framework and Strategic Opportunities written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-06-28 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Financial Services Centres (IFSCs) in India, particularly at GIFT City, are designed to cater to the needs of international financial institutions and businesses. This article analyses the following points: ‣ What is an IFSC? ‣ Permitted Business Activities in IFSCs ‣ Setting up an IFSC Banking Unit ‣ Business Activities Carried Out by the IFSC Banking Unit ‣ Licensing Requirements for Indian and Foreign Banks in India's IFSCs ‣ Capital and Compliance Requirements ‣ Norms for Establishing Representative or Administrative Offices ‣ Prudential Regulatory Requirements for Banking Units Operating as IBUs or IBCs ‣ Exposure Ceiling Norms and Guidelines for Banking Units ‣ Currency Regulations for Conducting Business by Banking Units ‣ Transactions Through Foreign Currency Accounts ‣ Permitted Activities for Banking Units ‣ Maintenance of Books of Accounts, Records and Documents ‣ Exchange of Margins for Non-centrally Cleared Over-the-counter Derivative Contracts