Government is making all the efforts to promote the GIFT CITY of India, i.e., International Financial Service Centres (IFSC). Alternatives routes and methods are prescribed for the NRIs to make investment in IFSC. For this purpose, the International Financial Services Centre Authority (Fund Management) Regulations, 2022 (“The Regulations”) is formed by the International Financial Services Centre Authority (IFSCA). The Regulations are made in exercise of power given under IFSCA Act, 2019 and Securities and Exchange Board of India Act, 1992.