Date: 2025-10-08Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by sub section 1 of section 28 read with sub section 1 of section 12 and sub section 1 of section 13 of the International Financial Services Centres Authority Act,
**Executive Summary**
This document is the International Financial Services Centres Authority (Payment and Settlement Systems) (Amendment) Regulations, 2025, published on October 8, 2025, in the Gazette of India. It amends the 2024 regulations related to payment and settlement systems. The amended regulations come into force from the date of their publication.
**Key Points / Main Content**
* **Title:** The regulations are called the International Financial Services Centres Authority (Payment and Settlement Systems) (Amendment) Regulations, 2025.
* **Effective Date:** The regulations come into force on the date of their publication in the Official Gazette.
* **Amendment to 2024 Regulations:** Regulation 2 amends the International Financial Services Centres Authority (Payment and Settlement Systems) Regulations, 2024.
* **Definition of "Board":** The existing clause (d) of sub-regulation (1) of regulation 3, shall be replaced as follows: "(d) "Board" means the Payments Regulatory Board constituted under sub-section 2 of section 3 of the Act".
**Impact Analysis**
**International Financial Services Centres Authority**
* **Impact**: The Authority is responsible for enforcing and adhering to the amended regulations concerning payment and settlement systems.
* **Action Required**: Update internal documentation and processes to reflect the new definition of "Board" and ensure compliance.
**Payments Regulatory Board**
* **Impact**: The board's composition and role in the regulations are explicitly defined.
* **Action Required**: The board needs to understand and acknowledge the defined role in the regulations to maintain compliance and adherence.
Key Entities Referenced
International Financial Services Centres Authority: Primary regulator involved in creating and amending regulations for financial services centers.
International Financial Services Centres Authority (Payment and Settlement Systems) Regulations, 2024: The principal regulation being amended.
International Financial Services Centres Authority (Payment and Settlement Systems) (Amendment) Regulations, 2025: The regulation that amends the 2024 regulations, particularly regarding the definition of "Board".
International Financial Services Centres Authority Act, 2019: Enabling legislation for the International Financial Services Centres Authority.
Payments and Settlement Systems Act, 2007: Act that provides the framework for regulation and supervision of payment systems in India, relevant for these regulations.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-जी.जे.-अ.-11102025-266868
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CG-GJ-E-11102025-266868
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 668] नई ददल्ली, बुधिार, अक्त बू र 8, 2025/आजि न 16, 1947
No. 668] NEW DELHI, WEDNESDAY, OCTOBER 8, 2025/ASVINA 16, 1947
अतं रराष्ट्रीय जित्तीय सिे ा केंद्र प्राजधकरण
अजधसचू ना
गांधीनगर, 29 जसतम्बर, 2025
अतं रराष्ट्रीय जित्तीय सिे ा केंद्र प्राजधकरण (भगु तान एि ंजनपटान प्रणाली) (सिं ोधन) जिजनयम, 2025
फा. स.ं आईएफएससीए/िीएन/2025/010.—अतं रराष्ट्रीय जित्तीय सेिा केंद्र प्राजधकरण अजधजनयम, 2019
(2019 का 50) की धारा 12 की उपधारा (1) और धारा 13 की उपधारा (1) के साथ पठित धारा 28 और भुगतान एि ं
जनपटान प्रणाली अजधजनयम, 2007 (2007 का 51) की धारा 38 की उपधारा (1) और उपधारा (2) के खंड (ख) से (च) के
साथ पठित धारा 34ख द्वारा प्रदत्त िजियों का प्रयोग करत े हुए, अंतरराष्ट्रीय जित्तीय सेिा केंद्र प्राजधकरण, अंतरराष्ट्रीय
जित्तीय सेिा केंद्र प्राजधकरण (भगु तान एि ंजनपटान प्रणाली) जिजनयम, 2024 में संिोधन करन ेके जलए जनम्नजलजखत जिजनयम
बनाता ह ै अथाात्:
1. (1) इन जिजनयमों को अंतरराष्ट्रीय जित्तीय सेिा केंद्र प्राजधकरण (भुगतान एिं जनपटान प्रणाली) (संिोधन)
जिजनयम, 2025 कहा िाएगा।
(2) ये िासकीय रािपत्र में प्रकािन की तारीख से लागू होंगे।
6754 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
2. अंतरराष्ट्रीय जित्तीय सेिा केंद्र प्राजधकरण (भगु तान एि ं जनपटान प्रणाली) जिजनयम, 2024 म,ें जिजनयम 3 के
उप-जिजनयम (1) के जिद्यमान खंड (घ) को जनम्नानुसार प्रजतस्ट्थाजपत दकया िाएगा,
“(घ) “बोड”ा का तात्पय ा अजधजनयम की धारा 3 की उप-धारा 2 के अतं गता गठित भगु तान जनयामक
बोडा से ह”ै
प्रवीण त्रिवेदी, कायाकारी जनदेिक
[जिज्ञापन-III/4/असा./402/2025-26]
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
NOTIFICATION
Gandhinagar, the 29th September, 2025
International Financial Services Centres Authority (Payment and Settlement Systems)
(Amendment) Regulations, 2025
F. No. IFSCA/GN/2025/010.—In exercise of the powers conferred by sub-section (1) of section 28 read
with sub-section (1) of section 12 and sub-section (1) of section 13 of the International Financial Services Centres
Authority Act, 2019 (50 of 2019) and section 34 B read with sub-section (1) and clauses (b) to (f) of sub-section (2) of
section 38 of the Payments and Settlement Systems Act, 2007 (51 of 2007), the International Financial Services Centres
Authority hereby makes the following regulations further to amend the International Financial Services Centres
Authority (Payment and Settlement Systems) Regulations, 2024, namely:
1. (1) These regulations may be called the International Financial Services Centres Authority (Payment and
Settlement Systems) (Amendment) Regulations, 2025.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the International Financial Services Centres Authority (Payment and Settlement Systems) Regulations,
2024, the existing clause (d) of sub-regulation (1) of regulation 3, shall be replaced as follows,
“(d) “Board” means the Payments Regulatory Board constituted under sub-section 2 of section 3 of the Act”
PRAVEEN TRIVEDI, Executive Director
[ADVT.-III/4/Exty./402/2025-26]
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and Published by the Controller of Publications, Delhi-110054.