Section 4, International Financial Services Centers Authority Act, 2019 [S29-CAM]
As at 6 September 2026. In force from 7 May 2020 by S.O. 120(E) [N12-KAS].
4. Registration of financials institution.—(1) Every financial institution shall, within seven days from the commencement of this Act or, where such person begins the business of a financial institution after such commencement, within seven days from the date of such beginning, make an application for registration to the Reserve Bank in Form B, accompanied by a fee of two thousand rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No financial institution shall carry on the business of a financial institution unless registered under this section.
Defined terms in this text (2)
financial institution: Section 2, International Financial Services Centers Authority Act, 2019 [S29C8G] (In this Act, unless the context otherwise requires,—): "financial institution" means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934)
financial institution: 25 more definitions.
Reserve Bank: Section 2, International Financial Services Centers Authority Act, 2019 [S29C8G] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
Made under this section, or naming it (1)
Notification S.O. 3169(E), dated 25th May, 2024 [N12-NPW], 25 May 2024, in force. The text contains "section 4 of the said Act".
Cited by (3)
Section 38, International Financial Services Centers Authority Act, 2019 [S29-DCW], 28 July 2019, Band A. "section 4".
Section 43, International Financial Services Centers Authority Act, 2019 [S29-DH3], 28 July 2019, Band A. "section 4".
Rule 3, International Financial Services Centers Authority Act Rules, 2022 [S2A-ZW3], 14 April 2022, Band A. "sub-section (1) of section 4 of the Act".
Not held (0)
none
Duties published under this section (1)
D12-43A. Every financial institution: Apply for registration to the Reserve Bank in Form B, fee two thousand rupees; seven days from the commencement of the Act, or from beginning the activity; Form B. Published by Department of Financial Services, Ministry of Finance (synthetic record).