Summary: The International Financial Services Centres Authority (IFSCA) has extended the timeline for units in International Financial Services Centres (IFSC) to obtain new International Securities Identification Numbers (ISINs) from depositories recognised by the IFSCA.
The extension relates to the earlier Circular dated February 06, 2026 on directions for obtaining ISINs from a recognised depository in IFSC. Under that earlier ISIN Circular, units in IFSC which had already obtained ISINs from domestic depositories in India for securities or other permitted financial products were required to obtain new ISINs from a depository recognised by IFSCA by August 31, 2026.
Based on representations received from stakeholders, IFSCA has now decided to extend this deadline to December 31, 2026. Accordingly, the timeline for the recognised depository in the IFSC to submit a compliance report to IFSCA confirming completion of the transition process has also been extended to January 31, 2027.
The circular has been issued under regulation 72 of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021, read with sections 12 and 13 of the International Financial Services Centres Authority Act, 2019. Regulation 72 empowers the Authority to specify norms, procedures, processes, manners or guidelines through circulars for implementation of the regulations and matters incidental thereto.
The revised timeline takes effect immediately. The extension therefore provides additional time to the affected IFSC units to complete the transition from ISINs obtained from domestic Indian depositories to ISINs obtained from a depository recognised by IFSCA, while correspondingly extending the compliance-reporting deadline applicable to the recognised depository.
Complete Original Regulatory Content
International Financial Services Centres Authority
Circular No. IFSCA-PLNP/85/2025-Capital Markets | August 25, 2026
To,
Units in the International Financial Services Centres (“IFSC”)
Dear Sir / Madam,
Subject: Extension of timeline for obtaining International Securities Identification Numbers (ISINs) from a recognised depository in IFSC
1. Reference is drawn to Circular dated February 06, 2026 on ‘Directions for obtaining ISINs from a recognised depository in IFSC’ (“ISIN Circular”) issued by the International Financial Services Centres Authority (“IFSCA”).
2. The ISIN Circular, inter-alia, directs the units in IFSC which have already obtained ISINs from the domestic depositories in India for the securities or other permitted financial products, to obtain new ISINs from a depository recognised by the IFSCA, by August 31, 2026.
3. Based on the representations received from the stakeholders, it has been decided to extend the above-mentioned timeline to December 31, 2026.
4. Consequently, the timeline for the recognised depository in the IFSC to submit a compliance report to IFSCA confirming completion of the transition process, stands extended to January 31, 2027.
5. This circular is issued in exercise of powers conferred under sections 12 and 13 of the International Financial Services Centres Authority Act, 2019 read with regulation 72 of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021, and shall come into force with immediate effect.
A copy of this circular is available on the website of IFSCA at www.ifsca.gov.in.
Yours faithfully,
Sd/-
Amit Prajapati
General Manager
Department of Capital Markets
[email protected]
