Date: 2025-12-29Category: Extra OrdinaryState: Union GovernmentCountry: India
The International Financial Services Centres Authority, having considered the application for grant of renewal of recognition under Regulation 12 of the International Financial Service Centres Authority
**Executive Summary**
This notification, issued by the International Financial Services Centres Authority (IFSCA) on December 24, 2025, announces the renewal of recognition for India International Clearing Corporation (IFSC) Limited to operate as a Clearing Corporation. The renewal is effective from December 29, 2025, and extends until December 28, 2028. The renewal is subject to conditions specified by IFSCA.
**Key Points / Main Content**
* **Renewal of Recognition:**
* IFSCA grants a renewal of recognition to India International Clearing Corporation (IFSC) Limited.
* Renewal is effective for three years.
* Start date: December 29, 2025.
* End date: December 28, 2028.
* **Legal Basis:**
* The renewal is based on Regulation 12 of the International Financial Service Centres Authority (Market Infrastructure Institutions) Regulations, 2021.
* It is also done in exercise of the powers conferred by sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, and sub-section (4) of section 8A of the Securities Contracts (Regulation) Act, 1956 read with regulation 9 of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021
* **Conditions for Renewal:**
* The Clearing Corporation must comply with conditions specified by IFSCA from time to time.
**Impact Analysis**
**India International Clearing Corporation (IFSC) Limited**
* **Impact:**
* Continued operation as a recognised clearing corporation within the International Financial Services Centre.
* Subject to ongoing compliance with IFSCA regulations.
* **Action Required:**
* Ensure ongoing adherence to conditions specified by IFSCA.
**International Financial Services Centres Authority (IFSCA)**
* **Impact:**
* Overseeing and regulating operations.
* **Action Required:**
* Monitoring compliance.
* Specifying conditions for the continued operation of the Clearing Corporation.
**Securities Market Participants/Investors**
* **Impact:**
* Continued availability of a recognised clearing corporation for securities trading.
* **Action Required:**
* None specified.
Key Entities Referenced
International Financial Services Centres Authority (IFSCA): The primary regulatory authority mentioned in the notification.
International Financial Services Centres Authority Act, 2019: The Act under which IFSCA derives its powers.
India International Clearing Corporation (IFSC) Limited: The clearing corporation receiving the recognition renewal.
International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021: Regulations governing the renewal of recognition for market infrastructure institutions like the India International Clearing Corporation.
Securities Contracts (Regulation) Act, 1956: The Act that confers power to IFSCA.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-जी.जे.-अ.-31122025-268968
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 833] नई दि्ली, सोििार, दिसम्ब र 29, 2025/पौर् 8, 1947
No. 833] NEW DELHI, MONDAY, DECEMBER 29, 2025/PAUSHA 8, 1947
अतं रराष्ट्रीय जित्तीय सिे ा केंद्र प्राजधकरण
अजधसचू ना
गांधीनगर, 24 दिसम् बर, 2025
फा. स.ं आई.एफ.एस.सी.ए./ इंजडया आई.सी.सी./ निीकरण/ 2025-26.— अंतरराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण, इंजडया
इंटरनेिनल क्लीयररंग कारपोरेिन (आई.एफ.एस.सी.) जलजिटेड, जिसका पंिीकृत कायाालय प्रथि तल, यूजनट सं. 102, जसग्नेचर जबल्डंग
सं. 13बी, रोड 1सी, जोन 1, जगफ्ट सेज, जगफ्ट जसटी, गांधीनगर-382355 िें ह,ै द्वारा अंतरराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण (बाजार
अिसंरचना संस्ट्था) जिजनयि, 2021 के जिजनयि 12 के अधीन िान्द्यता का निीकरण प्रिान करने के जलए दकए गए आिेिन पर जिचार
करने और यह सिाधान हो िाने के पश्चात् दक ऐसा करना व्यापार के जहत िें, प्रजतभूजत बाजार के जहत िें और लोक जहत िें भी होगा,
अंतरराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण (बाजार अिसंरचना संस्ट्था) जिजनयि, 2021 के जिजनयि 9 के साथ पठित अंतरराष्ट्रीय जित्तीय
सेिा केन्द्द्र प्राजधकरण अजधजनयि, 2019 की धाराएं 12 और 13 और प्रजतभूजत संजििा (जिजनयिन) अजधजनयि, 1956 की धारा 8क की
उप-धारा (4) द्वारा प्रित्त िजियों का प्रयोग करते हुए, उि क्लीयररंग कारपोरेिन को तारीख 29 दिसम्बर, 2025 से प्रारंभ होने िाली
और 28 दिसम्बर, 2028 को सिाप्त होने िाली तीन िर्ा की अिजध के जलए, इसिें इसके नीचे कजथत ितों या इसके पश्चात् जिजहत या
अजधरोजपत की िाने िाली ितों के अधीन रहते हुए, प्रजतभूजतयों िें सजं ििाओं की बाबत िान्द्यता का निीकरण प्रिान करता ह ै:
▪ यह क्लीयररंग कारपोरेिन अंतरराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण द्वारा सिय-सिय पर जिजनर्िाष्ट ितों का अनुपालन करेगा ।
के. रािारािन, अध्यक्ष
[जिज्ञापन-III/4/असा./572/2025-26]
8785 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
NOTIFICATION
Gandhinagar, the 24th December, 2025
F. No. IFSCA/India ICC/Renewal/2025-26.—The International Financial Services Centres Authority, having
considered the application for grant of renewal of recognition under Regulation 12 of the International Financial Service
Centres Authority (Market Infrastructure Institutions) Regulations, 2021 by India International Clearing Corporation
(IFSC) Limited, having its registered office at 1st Floor, Unit No. 102, The Signature Building No. 13B, Road 1C, Zone
1, GIFT SEZ, GIFT CITY Gandhinagar-382355, and being satisfied that it would be in the interest of the trade, in the
interest of securities market and also in the public interest to do so, hereby grants, in exercise of the powers conferred
by sections 12 and 13 of the International Financial Services Centres Authority Act, 2019 and sub-section (4) of section
8A of the Securities Contracts (Regulation) Act, 1956 read with regulation 9 of the International Financial Services
Centres Authority (Market Infrastructure Institutions) Regulations, 2021, renewal of recognition to the said Clearing
Corporation for a period of three years, commencing on the 29th day of December, 2025 and ending on the 28th day of
December, 2028 in respect of contracts in securities subject to the conditions stated herein below or as may be prescribed
or imposed hereafter:
• The Clearing Corporation shall comply with conditions specified by the International Financial Services Centres
Authority from time to time.
K. RAJARAMAN, Chairperson
[ADVT.-III/4/Exty./572/2025-26]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.