Regulatory Framework to Establish IFSC Banking Units (IBUs) in India
The establishment of IFSC Banking Units (IBUs) is governed by the International Financial Services Centres Authority (IFSCA). IBUs are specialized banking branches set up within an International Financial Services Centre (IFSC), such as GIFT City, Gujarat, with the objective of providing banking services to global clients and conducting offshore transactions. Key Guidelines for Setting Up…
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Investment Opportunities at GIFT City: India’s Emerging International Financial Services Hub
IntroductionRecognising the potential of India’s financial sector on the global stage, the Government of India initiated the development of Gujarat International Finance Tec-City (GIFT City) in 2007. The project was envisioned as a smart city designed to serve as a hub for international financial services and high-end commercial activities. In the Union Budget for 2015–16,…
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Scope and Role of International Financial Services Centres (IFSCs) in India
IntroductionAn International Financial Services Centre (IFSC) is a jurisdiction that caters to customers outside the domestic economy, focusing on cross-border flows of finance, financial products, and services. IFSCs aim to attract global financial institutions and facilitate international financial transactions by offering a business-friendly ecosystem under a regulatory framework aligned with global standards. The scope of…
Read article What is an IFSC and how does it work for the international financial market
An international financial services centre (IFSC) caters to customers outside the jurisdiction of the domestic economy, dealing with flows of finance, financial products and services across borders. The IFSC brought back the financial services and transactions that are earlier carried out in offshore financial centres by Indian corporate entities and overseas branches/subsidiaries of Financial Institutions…
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FSDC reviews major impact on global/ domestic economy and financial markets
A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was held today (January 13, 2021) in Mumbai through video conference. RBI Governor Shri Shaktikanta Das, chaired the meeting. In the meeting, topics of the major impact on global and domestic economy as well as financial financial stability were discussed. The following…
IFSC facilitates LRS remittances besides across the border financial products and financial services
International Financial Services Centre (IFSC) caters to customers outside the jurisdiction of the domestic economy dealing with flows of finance, financial products and services across borders. It is also known as an offshore financial centre since it deals with the flow of finance, financial products and services across borders. IFSC set up in India can…
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