IFSCA Amends ‘Global/Regional Corporate Treasury Centres’ Framework

Circular No. F. No. IFSCA/24/2024-Banking-FC/02; Dated: 09.06.2025

The International Financial Services Centres Authority (IFSCA) has notified an amendment to the ‘Framework for Finance Company/Finance Unit Undertaking the Activity of Global/Regional Corporate Treasury Centres (GRCTC)’, providing greater flexibility to new entrants setting up operations in the IFSC.

1. Relaxation Added Under Clause 3(2)(ii)

A proviso has been inserted under Clause 3(2)(ii) of the framework, which originally required GRCTC applicants to employ a minimum of five qualified personnel based in IFSC to carry out permissible activities.

2. Chairperson Empowered to Grant Conditional Relief

As per the amendment, the Chairperson of the Authority is now empowered, on request from the applicant, to grant a relaxation from the five-personnel requirement, provided that:

• The applicant submits a valid justification based on its proposed business volume, and
• The relaxation is granted for a period not exceeding one year from the date of commencement of operations

3. Objective of the Amendment

This amendment aims to:

• Facilitate ease of doing business for new GRCTC applicants
• Encourage gradual onboarding of talent based on business scaling
• Maintain regulatory oversight while supporting operational flexibility

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