Fee structure for Merchant Bankers in IFSC

Document text

CIRCULAR F. No. IFSCA-PLNP/2/2021-Capital Markets June 25, 2021 To, All Merchant Bankers in the International Financial Services Centre (IFSC) Dear Sir/Madam, Sub: Fee structure for Merchant Bankers in IFSC 1. The merchant bankers have been permitted to operate in IFSC in terms of the applicable provisions under Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015, as amended from time to time. 2. The fee structure for merchant bankers in IFSC shall be as follows: a) Application fee of USD 1,000; b) One-time registration fee of USD 25,000 for new registration; c) Fee of USD 25,000 every three years post registration. 3. The fees shall be credited in full amount without any deduction or charges in the following bank account: Account Name: IFSCA FUND 2 Account Number: 39907189884 IFSC Code: SBIN0060228 SWIFT Code: SBININBB255 NOSTRO details available at: https://www.sbi.co.in/web/nri/remittances/correspondent-bank-accounts 4. This circular is issued in exercise of powers conferred under Section 12 of the International Financial Services Centres Authority Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the IFSC. 5. A copy of this circular is available on the website of International Financial Services Centres Authority at www.ifsca.gov.in Yours faithfully, Arjun Prasad Deputy General Manager arjun.pd@ifsca.gov.in