Unified Authority for Regulating all Financial Services

The Union Cabinet on February 6 approved establishment of a unified authority for regulating all financial services in International Financial Services Centres (IFSCs) in India through International Financial Services Centres Authority Bill, 2019.

Remember This: The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat.

Functions of IFSC

  • An IFSC enables bringing back the financial services and transactions that are currently carried out in offshore financial centers by Indian corporate entities and overseas branches /subsidiaries of financial institutions (FIs) to India by offering business and regulatory environment that is comparable to ....
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