INDIA: IFSCA Announces Framework on Stewardship Code in IFSC

Friday October 31 2025

On 23^rd October 2025, International Financial Services Centres Authority (IFSCA) announced a Framework on Stewardship Code to strengthen investor protection and corporate governance standards within the IFSC ecosystem.

The set of principles, enumerated under this Stewardship Code, are aimed at guiding the regulated entities (Fund Management Entity) undertaking investment activities in IFSC which act as institutional investors, aligning their practices with global standards for long-term value creation.

Accordingly, all Fund Management Entities and Institutional Investors (including Alternate Investment Funds (‘AIFs’) and Retail Funds (‘RFs’) in the IFSC are encouraged to adopt a Stewardship Code and actively participate in building a more responsible and resilient investment ecosystem at the IFSC.

The Regulated Entities, undertaking investment activities, may adopt the Stewardship Code, as stipulated under Annexure-A, or may adopt a Stewardship Code specified or published by:

• a financial sector regulator in their home jurisdiction; or
• a financial sector regulator in India such as the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Pension Fund Regulatory and Development Authority (PFRDA); or
• a Statutory professional body such as the Institute of Company Secretaries of India (ICSI).

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