The International Financial Services Centres Authority (IFSCA) on July 01, 2026, issued the Draft International Financial Services Centres Authority (Setting up and Operation of International Branch Campuses) Regulations, 2026.
The following has been stated:
• The draft aims to position GIFT IFSC as a global education hub by enabling world-class foreign higher educational institutions to offer undergraduate, postgraduate, doctoral, research, and executive education programmes in Financial Management, FinTech, Science, Technology, Engineering, and Mathematics (STEM), while promoting research and innovation in emerging fields such as sustainable finance, quantum computing, and longevity finance.
• Key proposals include restricting eligibility to Foreign Higher Educational Institutions ranked within the Top 500 globally (overall or subject-wise), requiring applicants to demonstrate financial capability, infrastructure plans, quality assurance, and undertakings that education quality and qualifications awarded in GIFT IFSC will be equivalent to those offered in the home jurisdiction. Applications will be processed through the Single Window IT System (SWIT), with a Standing Committee reviewing applications within 45 days. Successful applicants will receive in-principle approval for one year (extendable by another year) to establish the campus before obtaining final registration.
• The draft mandates that courses offered by International Branch Campuses (IBCs) shall substantially mirror those of the parent institution, with degrees directly awarded by the parent university and enjoying the same recognition as in the home jurisdiction. Limited curriculum modifications are permitted with prior approvals, while up to 10% of course credits may be delivered through online or virtual mode where allowed by the home jurisdiction.
• The regulations also provide for inspections by IFSCA, prohibit IBCs from functioning as promotional offices for overseas campuses, require prior approval before discontinuing courses, and place responsibility on the parent institution to protect students' interests if programmes are disrupted. IBCs may conduct transactions in freely convertible foreign currency, maintain specified records, submit annual reports, repatriate profits without restriction, and comply with home jurisdiction obligations. Non-compliance may result in suspension, cancellation of registration, or penalties.
• The draft regulations repeal the 2022 IFSCA Regulations while preserving actions taken under the earlier framework.
Public comments on the draft have been invited until July 10, 2026.
