IFSCA has released a circular dated 11th May, 2021 stipulating the fee structure payable by banking units (BUs) in the International Financial Service Centre. They are as follows:
The above fee structure is applicable from 01stOctober 2020 and payable on financial year basis.
The fees payable for the period 1stOctober 2020 to 31stMarch 2021 and financial year 2021-22 shall be paid by the BUs within one month of this circular.
From next financial year onwards, the annual fee shall be payable within 30days from the beginning of financial year.
BUs will be advised separately, the fee payable by them.
BUs are directed to ensure compliance.