Date: 2026-03-30Category: Extra OrdinaryState: Union GovernmentCountry: India
Nominating Smt J Meena Kumari Executive Director Insurance Regulatory and Development Authority of India as Member International Financial Services Centres Authority(IFSCA)
**Executive Summary**
This notification, issued by the Ministry of Finance on March 30, 2026, amends the principal notification (S.O. 2527(E)) dated July 30, 2020, regarding the composition of the International Financial Services Centres Authority. Under the powers conferred by the International Financial Services Centres Authority Act, 2019, the Central Government has substituted the entry for a specific member position. The primary action is the appointment of a representative from the Insurance Regulatory and Development Authority of India to the membership of the Authority.
**Key Points / Main Content**
**Legal and Regulatory Basis**
* The notification is issued in exercise of powers under clause (b) of sub-section (1) of section 5 of the International Financial Services Centres Authority Act, 2019 (50 of 2019).
* It serves as a further amendment to the Government of India, Ministry of Finance, Department of Economic Affairs notification number S.O. 2527(E) dated July 30, 2020.
* The principal notification has been previously amended through various notifications dated January 6, 2021; June 1, 2021; June 27, 2022; and February 27, 2024.
**Membership Substitution**
* The amendment specifically targets the existing entry at serial number 3 of the original notification.
* The existing entry is substituted with Smt. J. Meena Kumari, who is the Executive Director of the Insurance Regulatory and Development Authority of India (IRDAI).
* Smt. J. Meena Kumari is designated as a "Member" of the International Financial Services Centres Authority.
**Impact Analysis**
**Smt. J. Meena Kumari**
**Impact**
She is officially appointed/substituted as a Member of the International Financial Services Centres Authority.
**Action Required**
Assume the duties and responsibilities associated with the membership of the Authority.
**International Financial Services Centres Authority (IFSCA)**
**Impact**
The governing composition of the Authority is updated at serial number 3 to reflect the new member.
**Action Required**
Update internal records and membership directories to reflect the substitution of the member representing the insurance regulator.
**Insurance Regulatory and Development Authority of India (IRDAI)**
**Impact**
The organization’s Executive Director is now the formally recognized member in the IFSCA as per the amended notification.
**Action Required**
Ensure institutional representation is maintained through the designated Executive Director.
Key Entities Referenced
International Financial Services Centres Authority Act, 2019: The primary legislation under which the Central Government exercises the power to appoint members to the International Financial Services Centres Authority.
International Financial Services Centres Authority (IFSCA): The statutory body responsible for regulating financial services in International Financial Services Centres, to which the new member is being appointed.
Insurance Regulatory and Development Authority of India (IRDAI): The regulatory body whose representative is nominated to serve as a member of the International Financial Services Centres Authority.
Smt. J. Meena Kumari: Executive Director of IRDAI who has been appointed as a member of the International Financial Services Centres Authority.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-31032026-271434
CG-DxLx-xEG-I3D1H0x3x2x0 26-271434
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 1598] नई ददल्ली, सोमिार, माच य30, 2026/चत्रै 9, 1948 13, 1947 26/पौष 17, 1947
No. 1598] NEW DELHI, MONDAY, MARCH 30, 2026/CHAITRA 9, 1948 ss, 1947 /PAUSHA 17, 1947
जित्त मत्रं ालय
(आर्थथक काय यजिभाग)
(जित्तीय बािार प्रभाग)
अजधसचू ना
नई ददल्ली, 30 माचय, 2026
का.आ. 1663(अ).— केंद्र सरकार, अंतरायष्ट्रीय जित्तीय सेिा केंद्र प्राजधकरण अजधजनयम, 2019 (2019 का 50)
की धारा 5 की उप-धारा (1) के खंड (ख) द्वारा प्रदत्त िजियों का प्रयोग करत े हुए एतदद्वारा, भारत सरकार, जित्त
मंत्रालय, आर्थथक कायय जिभाग की ददनांक 30 िुलाई, 2020 की अजधसूचना संख्या एस.ओ. 2527 (ई) में जनम्नजलजखत
संिोधन करती ह,ै अथायत्:-
उि अजधसूचना म,ें क्रम सं. 3 के सामने, मौिूदा प्रजिजि के जलए, जनम्नजलजखत प्रजतस्ट्थाजपत दकया िाएगा, अथायत:्-
“श्रीमती ि.े मीना कुमारी
काययकारी जनदेिक,
भारतीय बीमा जिजनयामक और जिकास प्राजधकरण ... सदस्ट्य”
[फा. सं. 4/1/2020-आरई-पार्य (1)
डॉ. आलोक जतिारी, संयुि सजचि
2329 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
पाद टर्प्पणी: प्रमुख अजधसूचना भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप-खंड (ii) में एस.ओ. 2527 (ई) ददनांक
30 िुलाई, 2020 के माध्यम से प्रकाजित की गई थी और बाद में अजधसूचना संख्या एस.ओ. 57 (ई) ददनांक
6 िनिरी, 2021, एस.ओ. 2099 (ई) ददनांक 1 िून, 2021, एस.ओ. 2912 (ई) ददनांक 27 िून, 2022
और एस.ओ. 925 (ई) ददनांक 27 फरिरी, 2024 के माध्यम से इसमें संिोधन दकया गया था।
MINISTRY OF FINANCE
(Department of Economic Affairs)
(FINANCIAL MARKETS DIVISION)
NOTIFICATION
New Delhi, the 30th March, 2026
S.O. 1663(E).— In exercise of the powers conferred by clause (b) of sub-section (1) of section 5 of
International Financial Services Centres Authority Act, 2019 (50 of 2019), the Central Government hereby makes the
following further amendment in the notification of the Government of India, Ministry of Finance, Department of
Economic Affairs, vide number S.O. 2527(E) dated the 30th July, 2020, namely:-
In the said notification, against serial number 3, for the existing entry, the following shall be substituted,
namely:-
“Smt. J. Meena Kumari
Executive Director,
Insurance Regulatory and Development Authority of India ....... Member”
[F. No. 4/1/2020-RE-Part (1)]
Dr. ALOK TIWARI, Jt. Secy.
Footnote: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-
section (ii) vide S.O. 2527(E) dated the 30th July, 2020 and subsequently amended vide notification number
S.O. 57(E) dated 6th January, 2021, S.O. 2099(E) dated 1st June, 2021, S.O. 2912(E) dated 27th June, 2022
and S.O. 925(E) dated 27th February, 2024.
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and Published by the Controller of Publications, Delhi-110054.