Workshop on Emerging RegulatoryFramework for NBFC-ML

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Full Day Workshop on Securitisation and Transfer of Loans

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Our writeups on the topic:

  1. Video Lecture on basics of Securitisation
  2. Securitisation Primer
  3. Evolution of securitisation – Genesis of MBS
  4. Global Securitisation Markets in 2021: A Robust Year for Structured Finance
  5. Securitisation Glossary
  6. After 15 years: New Securitisation regulatory framework takes effect
  7. One stop RBI norms on transfer of loan exposures
  8. Loan Participations: The Rising Star of Loan Markets
  9. FAQs on Securitisation of Standard Assets
  10. FAQs on Transfer of Loan Exposure
  11. Legal Issues in Securitization
  12. Has the cover fallen off Covered Bonds?
  13. Security Token Offerings & their Application to Structured Finance
  14. Resurgence of synthetic securitisations: Capital-relief driven transactions scale new peaks
  15. Understanding the budding concept of green securitization

Financial entities in IFSC: A primer

– Parth Ved, Executive |

Table of contents

BackgroundApplicability of Domestic Regulatory framework Regulatory framework in IFSC
What is IFSC?Companies Act, 2013IFSCA (Finance Company) Regulations, 2021
Purpose of setting up an IFSC Foreign Exchange Management Act, 1999Specific Frameworks for Aircraft Leasing and Ship Leasing
Who regulates IFSC?Income tax act, 1961IFSCA (Fund Management) Regulations, 2022
Is IFSC and GIFT City the same? Goods and Services TaxIFSCA (Banking) Regulations, 2020
Permission for setting up an entity in IFSCStamp dutyClosing remarks
Securities lawRelevant Links
Banking law


Flow of funds, just like a river, not only enriches its destination but also benefits all the stops it passes through. Having a financial hub, a stopover which enables routing billions and billions of global funds on a daily basis can definitely prove resourceful. London, New York, Singapore are some of the globally recognised financial centres, and needless to say these locations are at the forefront of financial development. India too has tried to tap into this with the setting up of GIFT-IFSC in Gujarat, and has tried to position itself as the next big global hub for financial transactions.

Through this write-up, the author tries to explain the concept of International Financial Services Centre and the applicability of domestic regulatory framework on entities set up therein.

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Secretarial Audit: Regulatory Framework

– CS Vinita Nair, Senior Partner, Vinod Kothari & Company

15th Securitisation School

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We are also organising the 10th edition of the Securitisation Summit, an annual coming together of stakeholders in structured finance industry in India. The event will be held in physical as well as virtual mode on 27th May, 2022.
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Further, we are also organising a Pre-Summit Workshop on Securitisation and Transfer of Loans in Mumbai, a day before the Summit i.e. on 26th May, 2022. The workshop is intended to act as a refresher on the securitisation market in India.
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Our resources on the topic:

Banking & Finance units in IFSC- A regulatory overview

– Siddarth Goel (

Introduction- IFSCs

The stage of development of financial markets infrastructure in a country, amongst many other things, is a mirror of sound legal regulations, corporate governance, judicial certainty, and debtor protection regime within the country. The inflow of global capital is quintessential for financial markets development and allocation of adequate capital resources in growth sectors. In a move to make India a hub for global capital flow, Gujarat International Finance Tech-City (GIFT) has been established as a globally benchmarked International Financial Service Centre (GIFT-IFSC). GIFT-IFSC is India’s first dominant gateway for global capital flows in and out of the country.  The GIFT IFSC supports a gamut of financial services inter alia, banking, insurance, asset management, and other financial market activities. Prior to dealing with the regulatory framework governing financial units established in GIFT-IFSC, it is important to understand the broad function of an IFSC.

IFSCs are the Offshore Financial Centers (OFCs) that cater to customers outside their own jurisdiction. IMF defines OFCs as any financial center where the offshore activity takes place. However, this does not limit financial institutions in OFCs from undertaking domestic transactions. Therefore practical definition propounded by IMF is;

“OFC is a center where the bulk of financial sector activity is offshore on both sides of the balance sheet, (that is the counterparties of the majority of financial institutions liabilities and assets are non-residents), where the transactions are initiated elsewhere, and where the majority of the institutions involved are controlled by non-residents.”

Units set up in GIFT-IFSC can broadly be categorised on the basis of business activity intended to being undertaken by the entity.


This write-up covers regulations governing banking and financial services undertaken by Banking Units and Finance Companies set up in IFSC. The first part touches upon the benefits of setting up a unit in IFSC. The second part covers Banking Units and permitted financial activities. The third part covers Financial Companies in IFSC along with permissible activities and capital requirements. The fourth part covers financial service transactions to and fro between a financial unit based in IFSC and domestic tariff area (DTA). The last part deals with the applicable  KYC/PMLA compliances and the currency of transactions with units based in IFSC.

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