What are the various categories of clients to whom the

Solution

Guideline 9 Nature of clients: .(1) Any intermediary permitted by the Board for operating within the IFSC shall provide financial services to the following categories of clients: (i) a person not resident in India; (ii) a non-resident Indian; (iii) a financial institution resident in India who is eligible under FEMA to invest funds offshore, to the extent of outward investment permitted; (iv) a person resident in India who is eligible under FEMA, to invest funds offshore, to the extent allowed under the Liberalized Remittance Scheme of Reserve Bank of India, subject to a minimum investment as specified by the Board from time to time: Provided that clients referred to in clauses (ii) to (iv) may be provided services, subject to guidelines of Reserve Bank of India.