Section - 57A - Reserve Bank of India Act, 1934

Section - 57A - Powers of Bank not to apply to International Financial Services Centre

[57A. Powers of Bank not to apply to International Financial Services Centre

Notwithstanding anything contained in any other law for the time being n force, the powers exercisable by the Bank under this Act,-

(a)	-	shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005.);
(b)	-	shall be exercisable by the International Financial Services Centres Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019,

insofar as regulation of financial products, financial services and financial institutions that are permitted in the International Financial Services Centres are concerned.].

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