• To regulate financial products (such as securities, deposits or contracts of insurance), financial services, and financial institutions which have been previously approved by any appropriate regulator (such as RBI or SEBI), in an IFSC.
• It will follow all processes which are applicable to such financial products, financial services, and financial institutions under their respective law.
• The appropriate regulators are listed in a Schedule to the Bill and include the RBI, SEBI, IRDAI,
and PFRDA. The central government may amend this schedule through a notification.
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