Powers of Reserve Bank not to apply to International Financial Services Centre
Section 44A of the Foreign Exchange Management Act, 1999 deals with powers of Reserve Bank not to apply to International Financial Services Centre. Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,-- (a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2 The Act came into force on 01 Jun 2000.
1[44A. Powers of Reserve Bank not to apply to International Financial Services Centre.-- Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,--
(a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005);
(b) shall be exercisable by the International Financial Services Centres Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019,
Section 44A, The Foreign Exchange Management Act, 1999 (Act 42 of 1999).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 44A
What does Section 44A of the Foreign Exchange Management Act deal with?
Section 44A of the Foreign Exchange Management Act is headed "Powers of Reserve Bank not to apply to International Financial Services Centre". [44A. Powers of Reserve Bank not to apply to International Financial Services Centre.-- Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,-- (a) shall not extend to an International Financial Services Centre set
How do I find court cases under Section 44A of the Foreign Exchange Management Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Fema 44A, section 44A Fema, section 44A of the Foreign Exchange Management Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 44A of the Foreign Exchange Management Act, and has it changed?
Its own text turns on International Financial Services Centres Authority Act 4 (Establishment and incorporation of Authority), so none of them can safely be read on its own.
When did Section 44A of the Foreign Exchange Management Act come into force?
Section 44A of the Foreign Exchange Management Act, cited as Fema 44A, came into force on 01 Jun 2000, having been enacted on 29 Dec 1999. It is in force as at the date shown on this page.
Other sections of this Act
- 2. Definitions1265 words
- 14. Enforcement of the orders of Adjudicating Authority837 words
- 13. Penalties496 words
- 10. Authorised person489 words
- 49. Repeal and saving475 words
- 19. Appeal to Appellate Tribunal465 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 19 Oct 2026. This page is not a substitute for legal advice.