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) |