Time limit for dispose of application under IFSC

Time limit for disposal of applications Time limit for disposal of applications by various divisions/department are as follows:

• Sr No — Name of the vertical — category of applicant — time limit for disposal of application
• 1 — Banking Regulation and Development — Licensing of an applicant as IBU — 90 days (From the date of receipt of complete information as specified in the directions)
• Licensing of an applicant as IBC — 180 days (From the date of receipt of complete information as specified in the directions)
• Granting Letter of permission as RO — 30 days (From the date of receipt of complete information as specified in the directions)
• Granting Letter of permission as GAO — 60 days (From the date of receipt of complete information as specified in the directions)
• 2 — Market Infrastructure Institutions — Broker-Dealer, Clearing Member, Depository Participant, Custodian — 45 days (From receipt of complete application / information and applicable fee)

• 3 — Primary Markets and Intermediaries — Investment Adviser, Investment Banker Credit Rating Agency — 45 days (From receipt of complete application / information and applicable fee)
• 4 — Division of Debt and Sustainable Finance — Debenture Trustees — 45 days (From receipt of complete application / information and applicable fee)
• 5 — Ancillary Services — Authorisation under Ancillary Framework — 60 days (From the date of receipt of complete application / information and applicable fee)
• 6 — Department of Insurance — II0 — 45 days (From the date of receipt of complete application / information and applicable fee)
• III0
• 7 — Department of Metals and Commodities — Bullion Trading Clearing Member (Fresh Registration) — 60 days (From the date of receipt of complete application / information and applicable fee)
• Bullion Trading Clearing Member (Cancellation/surrender of Registration) QJ

• Vault Manager
• 8 — Fund-1 — Distributors of Capital Market Products & Services — 45 days (From the date of receipt of complete application / information and applicable fee)
• Angel Fund — 45 days (From the date of receipt of complete application / information and applicable fee)
• Family Investment Fund — 45 days (From the date of receipt of complete application / information and applicable fee)
• 9 — Fund II — Fund Management Equity — 45 days from the date of receipt of complete application / information and applicable fee)
• Funds/Scheme — 45 days from the date of receipt of complete application / information and applicable fee)
• 10 — Fintech — Authorization (A) — 60 days from the date of receipt of complete application / information and applicable fee)

• limited use Authorization (LUA) — 120 days from the date of receipt of complete application / information and applicable fee)
• 11 — Division of Finance Company Regulations — Finance Company (Core) and ITFS entities — 90 days from the date of receipt of complete application / information and applicable fee)
• Finance Company (Non-Core) — 60 days from the date of receipt of complete application / information and applicable fee)