Deep Dive into the Scope of Business and Currency Operations for IIIO Armed with a comprehensive understanding of the International Insurance Intermediary Offices (IIIO) functioning within the International Financial Services Centre (IFSC), we aim to delve deeper into the specifics and intricacies of their operation. Our key areas of discussion include the scope of business for an IIIO and the currency in which their operations can be conducted. Unfolding the Scope of Business for an […]

RBI Issues Guidelines on Bank Classification of Unclaimed Deposits Periodic Reviews and Fraud Prevention Measures The Reserve Bank of India (RBI) recently released comprehensive guidelines for banks concerning the classification of accounts and deposits as inoperative and unclaimed. These measures include conducting periodic reviews of such accounts and deposits, implementing measures to prevent fraud in these accounts, and providing a grievance redressal mechanism for the expeditious resolution of complaints. RBI guidelines also outline steps for […]

RBI’s Circular on Investment in AIFs: Addressing Compliance Challenges The Reserve Bank of India (RBI) recently issued a circular that could pose both practical challenges and concerns regarding compliance for regulated entities (REs) engaging in investments in Alternative Investment Funds (AIFs). RBI’s Intent: Managi ng “Evergreening” Concerns RBI’s concerns surrounding the practices of loan “evergreening” by REs, including Non-Banking Financial Companies (NBFCs), are indeed justified. The circular is specifically designed to restrict structures permitting REs […]

Examining the Legal Structures for Establishing a Fund Management Entity (FME) in IFSC Forming a Fund Management Entity (FME) within the International Financial Services Centres (IFSC) is a complex process, considering the multitude of legal structures available. Understanding these available structures is instrumental in ensuring successful establishment and operation of your FME. To facilitate this, we dive deep into the unique legal forms available for setting up an FME in IFSC. Formation Options for FMEs […]

Defined Activities under the umbrella of a Fund Management Entity (FME) As we delve deeper into the realm of Fund Management Entities (FMEs), variations in their operational activities become clear. Each category of FME, whether Authorised, Registered (Non-Retail), or Registered (Retail), presents a unique spread of activities supervised by their regulatory authority. Activities Undertaken by an Authorised FME An Authorised Fund Management Entity (Authorised FME) is endowed with several responsibilities under its jurisdiction. Venture Capital […]