The International Financial Services Centres (IFSCA) on February 13, 2026, issued Frequently Asked Questions on International Financial Services Centres Authority (Global In-House Centres) Regulations, 2025.
The FAQs are as stated:
• What is a GIC Unit?
GIC Unit means a Unit set up in International Financial Services Centre for delivering services relating to financial products and financial services to a Financial Institution Group under any of the operating models, viz Captive Centre, Build-Operate-Transfer, Joint Venture or Hybrid.
• Who can apply for setting up a GIC Unit?
Entities that qualify as a Financial Institution Group are eligible to apply for setting up a GIC Unit. However, in permitted operating models such as Build-Operate-Transfer (BOT) model, a third-party service provider may apply, subject to prior authorization from the Financial Institution Group.
• What is a Financial Institution Group?
It means entity(ies) of a group (i.e., Group Entity) engaged in providing financial services or carrying out financial activities including banks, Non-Banking Financial Companies (NBFCs), insurance companies, re-insurance companies, actuaries, brokerage firms, funds, investment banks, financial intermediaries, stock exchanges, clearing corporations, depositories, custodians, and similar financial institutions.
• Are there any jurisdictional restrictions for the applicants?
Yes. The applicant, its promoters, partners, or parent entity (in case of a branch) must not be from a jurisdiction identified by the Financial Action Task Force (FATF) as a “High-Risk Jurisdiction subject to call for action.”
• What kind of services a GIC Unit can provide?
The GIC Unit may provide services in relation to financial product(s) and financial service(s) to the entities of the Financial Institution Group. These services, inter-alia, include TechFin Services, Ancillary Services and BATF services, etc.
• Who can be a service recipient of a GIC Unit?
The GIC Unit shall provide services only to the entities of the Financial Institution Group which are ‘non-resident’ and are located in the jurisdictions which have not been identified in the public statement of Financial Action Task Force (FATF) as “High-Risk Jurisdiction subject to call for action”.
