ADI

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) 

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