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The GIFT City Guide

Glossary

The terms used across this Guide, in plain words.

IFSC
International Financial Services Centre: a jurisdiction set up in an SEZ under s.18 of the SEZ Act, 2005, for financial services in foreign currency. More →
IFSCA
International Financial Services Centres Authority, the unified regulator for IFSCs, established 27 April 2020. More →
SEZ
Special Economic Zone under the SEZ Act, 2005. More →
DTA
Domestic tariff area: India outside SEZs. More →
SWIT
Single Window IT system, IFSCA's application portal. More →
CAF
Common Application Form filed on SWIT with an activity annexure. More →
LoA
Letter of Approval for an SEZ unit. More →
UAC
Unit Approval Committee for SEZ units. More →
BLUT
Bond-cum-legal undertaking executed by an SEZ unit (Form H). More →
FME
Fund Management Entity registered under the FM Regulations, 2025. More →
FIF
Family investment fund: a fund pooling a single family's money. More →
PMS
Portfolio management services. More →
KMP
Key managerial person required by an IFSCA framework. More →
IBU
IFSC Banking Unit: a bank branch in the IFSC. More →
IBC
IFSC Banking Company: a bank subsidiary in the IFSC. More →
GAO
Global Administrative Office of a bank. More →
GIC
Global In-House Centre under the GIC Regulations, 2025. More →
GRCTC
Global or Regional Corporate Treasury Centre. More →
ITFS
International Trade Financing Services platform. More →
CMI
Capital market intermediary under the CMI Regulations, 2025. More →
MII
Market infrastructure institution: exchange, clearing corporation or depository. More →
IIBX
India International Bullion Exchange. More →
IIO
IFSC Insurance Office. More →
IIIO
IFSC Insurance Intermediary Office. More →
PSP
Payment service provider under the PS Regulations, 2024. More →
TechFin
Technology service provider to financial institutions under the TAS Regulations, 2025. More →
BATF
Book-keeping, accounting, taxation and financial crime compliance services. More →
Section 147
Income-tax Act, 2025 deduction for IFSC units: 100% for 20 consecutive years out of 25. More →
Section 218
Income-tax Act, 2025: 15% tax on income referred to in s.147(3). More →
Form No. 35
Report supporting the s.147 deduction, under rule 69. More →
Section 80LA
The IFSC deduction under the Income-tax Act, 1961 (10 years out of 15), replaced from tax year 2026-27. More →
LRS
Liberalised Remittance Scheme for resident individuals under FEMA. More →
ODI
Overseas direct investment by Indian entities. More →
ECB
External commercial borrowing by Indian borrowers. More →
FEMA
Foreign Exchange Management Act, 1999. More →
DPDP
Digital Personal Data Protection Act, 2023 and Rules, 2025. More →
PMLA
Prevention of Money-laundering Act, 2002. More →
India INX
India International Exchange, an IFSC stock exchange. More →
NSE IX
NSE International Exchange, an IFSC stock exchange. More →
Direct listing
Listing of an Indian public company's shares on an IFSC exchange. More →
Sandbox
IFSCA FinTech Sandbox Framework 2026. More →

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