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RBI amends IFSC norms, allows financial institutions to conduct business in INR in IFSCs

January 18, 2020
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RBI has notified amendment to the FEM(IFSC) Regulations, 2015 (IFSC norms) whereby regulation 4 of the IFSC norms has been amended to include proviso providing that RBI may through a general or specific permission, allow a financial institution or a branch of a financial institution to conduct such business in Indian Rupee with such persons whether resident or otherwise as it may determine.
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