The International Financial Services Centres Authority (IFSCA) published a Notification on September 29, 2025, introducing the International Financial Services Centres Authority (Payment and Settlement Systems) (Amendment) Regulations, 2025. These regulations, which take effect immediately upon their publication in the Official Gazette, were enacted under the statutory powers of the IFSCA derived from the IFSCA Act, 2019, and the Payments and Settlement Systems Act, 2007. The primary change introduced by the 2025 amendment is the replacement of clause (d) in sub-regulation (1) of regulation 3 of the 2024 regulations. This amended clause formally defines the term “Board” to mean the Payments Regulatory Board as constituted under sub-section 2 of section 3 of the relevant Act.
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
NOTIFICATION
Gandhinagar, the 29th September, 2025
International Financial Services Centres Authority (Payment and Settlement Systems)
(Amendment) Regulations, 2025
F. No. IFSCA/GN/2025/010.—In exercise of the powers conferred by sub-section (1) of section 28 read with sub-section (1) of section 12 and sub-section (1) of section 13 of the International Financial Services Centres Authority Act, 2019 (50 of 2019) and section 34 B read with sub-section (1) and clauses (b) to (f) of sub-section (2) of section 38 of the Payments and Settlement Systems Act, 2007 (51 of 2007), the International Financial Services Centres Authority hereby makes the following regulations further to amend the International Financial Services Centres Authority (Payment and Settlement Systems) Regulations, 2024, namely:
1. (1) These regulations may be called the International Financial Services Centres Authority (Payment and Settlement Systems) (Amendment) Regulations, 2025.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the International Financial Services Centres Authority (Payment and Settlement Systems) Regulations, 2024, the existing clause (d) of sub-regulation (1) of regulation 3, shall be replaced as follows,
“(d) “Board” means the Payments Regulatory Board constituted under sub-section 2 of section 3 of the Act”
PRAVEEN TRIVEDI, Executive Director
[ADVT.-III/4/Exty./402/2025-26]
