New Delhi, June 27 -- The government is set to exempt non-bank lenders registered with the International Financial Services Centres Authority (IFSCA) from the Companies Act provisions governing loans, guarantees, and investments made by companies.

The ministry of corporate affairs said in an order that it has received a request from IFSCA for such an exemption to finance companies registered with it, which is aligned with similar exemption to non-bank lenders registered with the Reserve Bank of India (RBI).

The proposed exemption is expected to help dozens of IFSCA-registered financing firms.

The central bank is represented in IFSCA's governing framework, which oversees the financial centre in GIFT City, Gujarat. IFSCA is a unified aut...