The Law Of Financial Services in India

“Financial product” means—(i) securities;(ii) contracts of insurance; (iii) deposits; (iv) credit arrangements; (v) foreign currency contracts other than contracts to exchange one currency for another that are to be settled immediately; and (vi) any other product or instrument that may be notified by the Central Government from time to time.

“Financial service” means—(i) buying, selling, or subscribing to a financial product or agreeing to do so; (ii) acceptance of deposits;(iii) safeguarding and administering assets consisting of financial products, belonging to another person, or agreeing to do so;(iv) effecting contracts of insurance; (v) offering, managing or agreeing to manage assets consisting of financial products belonging to another person; (vi) exercising any right associated with a financial product or financial service; (vii) establishing or operating an investment scheme; (viii) maintaining or transferring records of ownership of a financial product; (ix) underwriting the issuance or subscription of a financial product; (x) providing information about a person’s financial standing or credit worthiness; (xi) selling, providing, or issuing stored value or payment instruments or providing payment services; (xii) making arrangements for carrying on any of the services insub-clauses (i) to (xi); (xiii) rendering or agreeing to render advice on or soliciting for the purposes of—(A) buying, selling, or subscribing to, a financial product; or(B) availing any of the services in sub-clauses (i) to (xi); etcs

Regulator

International Financial Services Centres Authority

Acts

Rules

Notifications

Circulars

Guidelines