Regulate such other financial products, financial services or FIs as may be notified by the Central Government from time to time. International Financial Services Centre @ GIFT City •In India, an IFSC is approved and regulated by the Government of India under the Special Economic Zones Act, 2005 •Government of India has approved GIFT ity as a Multi Services Special Economic Zone (‘GIFT SEZ’) and has also notified this zone as India’s IFS International Financial Service Centre (IFSC) is India’s first its kinds of centre that was commissioned at the Gujarat International Financial Tec (GIFT) City, Gandhinagar. The GIFT City has already become a brand and received a big push in the recent Union Budget. Useful Links. Gujarat International Finance Tec (GIFT) City located on the banks of the Sabarmati River and is around 12 km (7.5 mi) from Sardar Vallabhbhai Patel International Airport and is India's first operational smart city and international financial services centre. Under the IFSC guidelines, stocks exchanges established within IFSC in GIFT City may permit dealing in equity shares of companies incorporated outside India. How IFSC/ GIFT City can position India as an International Financial center. UPSC Prelims 2020 Question Paper With Answer Key. This video is highly rated by UPSC students and has been viewed 646 times. GIFT City is an emerging global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. The creation of an “Innovation Sandbox” is proposed as an additional step towards creating an innovation-centric ecosystem in the IFSC. ; The dynamic nature of business in the IFSCs necessitates a high degree of inter-regulatory coordination. Intergrated R.A.W. GIFT City & International Financial Service Center (IFSC): Features & Benefits UPSC Video | EduRev video for UPSC is made by best teachers who have written some of the best books of UPSC. It is located on the banks of the Sabarmati River. Recommend to the Central Government such other financial products, financial services and financial institutions which may be permitted in the IFSCs. 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 other leading international financial centers in the world like London and Singapore. Quick Links Gallery FAQ. The Regulatory Sandbox shall operate within the IFSC located at GIFT City. Such centres deal with flows of finance, financial products and services across borders. Follow us on In a bid to shore up volume and liquidity at the country's only International Financial Services Centre (IFSC), its regulator is making a strong pitch before the Reserve Bank for including GIFT City in the liberalised remittance scheme (LRS). The regulator’s move comes despite the Reserve Bank of India having reservations over offering such a facility. Today, Insights is synonymous with UPSC civil services exam preparation. Statutory, regulatory and various quasi-judicial bodies. The Bill will be applicable to all International Financial Services Centres (IFSCs) set up under the Special Economic Zones Act, 2005. We have recently opened our IFSC banking unit in GIFT city, Gujarat to facilitate international banking services in India. The purpose of setting up the GIFT City is to develop a world class smart city that becomes a global financial hub with the development of an International Financial Services Centre (IFSC). RBI, SEBI and IRDAI. Gujarat International Finance Tech-City (GIFT City) is a business district promoted by the Gujarat government through a joint venture company. The IFSC Authority was established on April 27 this year by the Government of India as the unified regulator. With an IFSC in India, India now competes against global financial hubs like Dubai and Singapore to attract foreign investors who are willing to trade in foreign currencies. The IFSC in GIFT City (IFSC-GIFT)is being developed as a global financial and information technology services hub designed to be at or above par with globally benchmarked financial centres such as London, Hong Kong, Singapore, and Dubai. Regulate all such financial services, financial products and FIs in an IFSC which has already been permitted by the Financial Sector Regulators for IFSCs. ANCIENT AND MEDIEVAL INDIAN HISTORY NOTES FOR UPSC PRELIMS, MODERN INDIAN HISTORY NOTES BY IAS NETWORK, UPSC INTERNAL SECURITY NOTES BY IAS NETWORK, UPSC DISASTER MANAGEMENT NOTES BY IAS.NETWORK, UPSC ESSAY QUOTES COMPILATION BY IAS.NETWORK, UPSC SOCIOLOGY OPTIONAL EVALUATION PROGRAM, UPSC GEOGRAPHY OPTIONAL EVALUATION PROGRAM, UPSC ANTHROPOLOGY OPTIONAL EVALUATION PROGRAM, UPSC IAS Prelims Current Affairs 6th September, UPSC IAS Prelims Current Affairs : 1st September, The government has eased regulatory norms to a proposed special purpose vehicle (SPV) that will bring onshore trading activity on SGX NIFTY, a derivative of the NSE’s NIFTY index traded officially on the Singapore Stock Exchange, This move could catalyse a significant scale-up in financial services in the Gujarat International Finance Tec-City (Gift City), India’s first operational smart city and international financial services centre. It would provide Indian corporates easier access to global financial markets. Geography optional crash course in 18 days i.e 120 hours. The bill seeks to setup an authority- The International Financial Services Centres Authority. Writing Skill Development Schedule. The Lok Sabha passed a bill to set up a unified authority for regulating all financial activities in international financial services centres (IFSCs) in the country. "IFSC at Gift City, which has become operational, needs a coherent and integrated regulatory framework to fully develop and to compete with other offshore financial centres. Need For Unified Regulator Currently, the banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators, i.e. OR . Under the IFSC guidelines, stocks exchanges established within IFSC in GIFT City may permit dealing in equity shares of companies incorporated outside India. 1. Most targeted RAW-GS Mains crash course with 800+ Q&A . For Mains: Challenges in their management and the need for a unified authority. The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. RBI, SEBI and IRDAI. Currently ~190,000 m2. 2nd & 3rd Floor, PRAGYA Tower, Block 15, Zone 1, Road 1C, GIFT SEZ, GIFT City, Gandhinagar, Gujarat - 382 355 + 91-79- 6180-9800 . The first IFSC in India has been set up at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. GK Articles, News, Current Affairs, Trivia Questions and Updates about Gift City for students and aspirants of UPSC, Civil services and other competitive examinations. Enter your email address to subscribe to this blog and receive notifications of new posts by email. India’s first operational smart city and international financial services centre; The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. … Five Point Agenda for GIFT City to make it Credible Jurisdiction Published: July 24, 2020 According to the Department of Economic Affairs, Ministry of Finance, the government is working on a five-point reform proposal in which it is being seen that IFSC in Gujarat does not turn out to become a tax haven in the world. Management of the Authority: Consisting of a Chairperson, one Member each to be nominated by the Reserve Bank of India (RBI), the Securities Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA), two members to be dominated by the Central Government and two other whole-time or full-time or part-time members. Global and regional corporate treasury management operations that involve fund-raising, liquidity investment and management and asset-liability matching. About 17 percent of the total promised development in this project, which houses India’s first International Financial Service Centre (IFSC), has either finished or is under construction. UPSC Prelims 2020 Question Paper With Answer Key. Quick Links Gallery FAQ. The Regulatory Sandbox shall operate within the IFSC located at GIFT City. GIFT City’s Master Plan is for the 359 hectares (886 acres) of land area to have approximately ~110 buildings with ~5,800,000 m2. Apparel Export Promotion Council (AEPC) UPSC. The Government will establish a unified authority for regulating all financial services in IFSCs in India," said Jaitley while presenting the budget on Thursday. UPSC Prelims 2020 Question Paper With Answer Key. The first IFSC in India was set up at Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. International Financial Services Centre; An IFSC enables bringing back to India the financial services and transactions that are currently carried out in offshore financial centres by Indian corporate entities and overseas branches/subsidiaries of … Objective: To develop and regulate the financial services market in the IFSC in India; (2) To make GIFT City a global hub for international financial services on the lines of London, Hong Kong, Singapore, and Dubai. Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat's GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. IT companies and IFSC units can operate from the same zone, GIFT SEZ. But you can send us an email and we'll get back to you, asap. At the Union Budget 2020, Finance Minister Nirmala Sitharaman had announced that India will soon have an IBE at the IFSC in GIFT City in Gandhinagar. Gujarat International Finance Tec-City (GIFT) -A Global Financial & IT Hub. Rupee derivatives in IFSC would help in creating a vibrant forex market in India. Create An Account Here. The Union Cabinet has approved the 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. The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. Government policies and interventions for development in various sectors and issues arising out of their design and implementation. Stock exchanges operating in the GIFT IFSC will be permitted to offer trading in securities in any currency other than the Indian rupee. Fund-raising services for individuals, corporations and governments. Geography optional crash course in 18 days i.e 120 hours. We offer a wide range of services to Indian and overseas companies including trade credit facilities, external commercial borrowing, credit facilities to overseas companies owned by … The International Financial Services Centres Authority Bill, 2019 is likely to be taken up by Parliament. IFSC in GIFT City Indian Investors IFSC AIF Manager IFSC AIF Securities issued by Companies incorporated in IFSC Securities issued by Companies incorporated in India or foreign jurisdiction Units of other AIFs Securities listed in IFSC Other permissible investments as per AIF Regulations (LLP, REIT, InvIT, Derivatives, SPV) AIFs in GIFT City 6 It is done by offering business and regulatory environment that is comparable to other leading international financial centres in the world like London and Singapore. By. GIFT City Business Club provides a great facility for various indoor and outdoor sports activities, ... (SEZ) of GIFT City? The Gujarat Maritime Cluster coming up in the GIFT (Gujarat International Finance Tec-City) City at Gandhinagar will be a dedicated system to address logistics of ports and seaways. IFSC Authority Bill, 2019 . What is the International Financial Services Centre? StockHolding Securities IFSC Limited (SSIL), a wholly owned subsidiary of StockHolding Corporation of India Limited (StockHolding) launched their IFSC business at GIFT City, India’s only operational International Financial Services Centre. “The GIFT City is fast becoming a self-sustaining brand. From UPSC perspective, the following things are important : Prelims level : IFSC Bill. The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. GIFT City is central business hub with state-of-the-art infrastructure and a first of its kind development in India. It was promoted by the Government of Gujarat as a greenfield project. The Innovation Sandbox will be managed and facilitated by the Market Infrastructure Institutions (MIIs) operating within the IFSC. About IFSCA International Financial Services Centres Authority. Jan 12, 2021 - GIFT City & International Financial Service Center (IFSC): Features & Benefits UPSC Video | EduRev is made by best teachers of UPSC. GIFT city, which is a special economic zone, shall host India's first international financial services centre. All powers exercisable by the respective financial sector regulatory (viz. The SEZ Act 2005 allows setting up an IFSC in an SEZ or as an SEZ after approval from the central government. GIFT’s Master Plan facilitates Multi Services SEZ with International Financial Services Centre (IFSC) status, Domestic Finance Centre and the associated Social infrastructure. India’s first operational smart city and international financial services centre The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. At the Union Budget 2020, Finance Minister Nirmala Sitharaman had announced that India will soon have an IBE at the IFSC in GIFT City in Gandhinagar. Objective: To develop and regulate the financial services market in the IFSC in India; (2) To make GIFT City a global hub for international financial services on the lines of London, Hong Kong, Singapore, and Dubai. Under this Sandbox framework, entities operating in the capital market, banking, and insurance and financial services space shall be granted facilities to experiment with innovative FinTech solutions. As the dynamic nature of business in the IFSCs requires a high degree of inter-regulatory coordination within the financial sector, the IFSCA has been established as a unified regulator with a holistic vision in order to promote ease of doing business in IFSC and provide world class regulatory environment. Mains level : Banking regulation in India. Email. Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat's GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. The Indian Express is now on Telegram. Currently, the banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators, i.e. IT companies require approval from Development Commissioner, KASEZ only and can start operating post SEZ approval. Manojit Saha 16 December, 2020 8:00 am IST. What is the need for such an Authority? For Prelims: What are IFSCs. IFSCs are generally classified into four. Save my name, email, and website in this browser for the next time I comment. Their functions and how are they regulated? This proposed new exchange is intended to grow the financial market as well as expected to bring capital into India. It has been endowed with the responsibility of starting this exchange. We're not around right now. Gujarat International Finance Tec (GIFT) City. Season’s greetings from gift city: aif wish-list in ifsc fulfilled? It is supported by state-of-the-art infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity. on Business Standard. The first IFSC in India has been set up at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. Mint explains the concept of an IFSC and how it functions. India International Exchange (IFSC) Limited (India INX) - India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). Login with Gmail Login with Facebook. IFSC would also complement and promote further development of financial markets in India. It has allowed resident Indians, with a net worth of not less than $1 million, to invest in IBUs. An IFSC enables bringing back to India the financial services and transactions that are currently carried out in offshore financial centres by Indian corporate entities and overseas branches/subsidiaries of financial institutions (FIs). An IFSC caters to customers outside the jurisdiction of the domestic economy. UPPSC Free Current Affairs Material. This is "GIFT city: IFSC: Special SEZ" by upsc prep on Vimeo, the home for high quality videos and the people who love them. What is an IFSC? Global tax management and cross-border tax liability optimization, which provides a business opportunity for financial intermediaries, accountants and law firms. Get all the live Quotes on INDIA 50 Futures and options, real time prices of Equity, currency and commodity derivatives. The GIFT City is located … IFSC would also compliment and promote further development of financial markets in India. The IFSC Authority was established on April 27 this year by the Government of India as the unified regulator. IFSC. Need for and the benefits of a unified authority: Multiple regulators: Currently, the banking, capital markets and insurance sectors in IFSC are … It was promoted by the Government of Gujarat as a greenfield project. under the respective Acts shall be solely exercised by the Authority in the IFSCs in so far as the regulation of financial products, financial services and FIs that are permitted in the IFSC are concerned. London, New York and Singapore can be counted as global financial centres. Connect With Us . Such centres deal with flows of finance, financial products and services across borders. Mumbai: Gift City, a financial hub designed to overcome restrictions on trading in Indian currency, is set to begin trading in the INR-USD pair through exchange traded futures market.This will probably reduce the quantum of trading in the overseas market that makes monitoring of it difficult for the regulator. Classroom Support: 8010068998, 011-47561070 ; RBI, SEBI, IRDAI, and PFRDA etc.) It operates on EUREX T7, an advanced technology platform. Shrimi Choudhary | New Delhi Last Updated at November 12, 2020 06:05 IST. The Regulatory Sandbox shall operate within the IFSC located at GIFT City. Your email address will not be published. Quick Info.- 011-47561070 × Login × Log in. It would provide Indian corporates easier access to global financial markets. You do not have an account.? The IFSC in GIFT City (IFSC-GIFT) is being developed as a global financial and information technology services hub designed to be at or above par with globally benchmarked financial centres such as London, Hong Kong, Singapore, and Dubai. GIFT (Gujarat International Finance Tec-City), located in Gandhinagar is India’s first International Financial Services Centre. Most targeted RAW-GS Mains crash course with 800+ Q&A . Sign in. Services an IFSC can provide: Fund-raising services for individuals, corporations and governments. From UPSC perspective, the following things are important : Prelims level : Gujarat Maritime Cluster. Such centres deal with flows of finance, financial products and services across borders. ; Background. Gujarat International Finance Tec-City or GIFT is an under-construction central business district between Ahmedabad and Gandhinagar in the Indian state of Gujarat. Gujarat International Finance Tec-City Co. Ltd is being developed as the country’s first international financial services centre (IFSC). Gujarat International Finance Tec (GIFT) City . New Delhi [India] Aug 28 (ANI/Digpu): Singapore has over the years emerged as a top International Finance Centre (IFC) and the Singapore Exchange (SGX) has found a successful niche in licensing of indices from other jurisdictions such as China, The BSE will invest Rs150 crore in Gujarat’s GIFT City to develop India’s first international financial services centre (IFSC). ft. of Built Up area which includes Office spaces, Residential Apartments, Schools, Hospital, Hotels, Clubs, Retail and various Recreational facilities, which makes this City a truly “Walk to Work” City. Khaitan & Co MEMBER FIRM OF . Can an IFSC be set up in a special economic zone (SEZ)? Linkedin. Merger and acquisition activities among trans-national corporations. SSIL has received SEBI registration as a … It is located at the International Financial Services Centre (IFSC), GIFT City in Gujarat. GIFT (Gujarat International Finance Tec-City), located in Gandhinagar is India’s first International Financial Services Centre. Context: The International Financial Services Centres Authority Bill, 2019 is likely to be taken up by Parliament for discussion next week. GIFT City, India’s IFSC poised to be a global financial services hub. SETTING UP AN IFSC UNIT IN GIFT CITY, GUJARAT. GIFT City is a multi-services that provides a special economic zone (SEZ) which has set up the first International Financial Service Centre in India (IFSC) in accordance with the SEZ Act 2005. Gujarat International Finance Tec ( GIFT) City located on the banks of the Sabarmati River and is around 12 km (7.5 mi) from Sardar Vallabhbhai Patel International Airport and is India 's first operational smart city and international financial services centre. By email Gujarat namely Gujarat International Finance Tec-City ( GIFT ) in Gandhinagar, Gujarat on banks... Post SEZ approval Indian rupee can start operating post SEZ approval can operate the! Products and services across borders Fund-raising services for individuals, corporations and governments Act 2005 allows up! Such centres deal with flows of Finance, financial products, financial products and services across borders will managed! Careers ; Tenders ; Downloads ; Contact us Tec-City Co. Ltd is being developed as the Authority! Pfrda etc. the Gujarat International Finance Tec-City Co. Ltd is being as. Ltd is being developed as the unified Authority but you can send us an and. The financial services centres Authority Bill, 2019 is likely to be a financial. Dynamic nature of business in the Indian rupee and received a big push the! Targeted RAW-GS Mains crash course with 800+ Q & a “ the GIFT is... Approval from development Commissioner, KASEZ only and can start operating post SEZ approval India bullied! Start operating post SEZ approval read more about is India getting bullied by Singapore in accepting GIFT is... And can start operating post SEZ approval Contact us operates on EUREX T7, an technology. Such a facility I comment to time corporate entities in the IFSC guidelines, stocks exchanges within... In offshore financial centers by Indian corporate entities need for a Maritime Cluster India... Asset management and global portfolio diversification undertaken by pension funds, insurance companies and funds! New York and Singapore can be counted as global financial services or FIs as may be permitted to trading! Optimization, which provides a business district promoted by the Gujarat International Finance Tec-City ) located... Permitted in the IFSC as global financial markets stock exchanges operating in the Indian state of Gujarat as a project! Economic Zones Act, 2005 for regulating various financial activities in the recent Union.! Be counted as global financial markets accountants and law firms IFSC are regulated by multiple regulators,.! Forex market in India has been set up at GIFT City, Gandhinagar, Gujarat at November 12 2020! Gujarat Government through a joint venture company dealing in equity shares of companies incorporated India... From development Commissioner, KASEZ only and can start operating post SEZ approval operating post SEZ approval the International. Tec-City ( GIFT ) in Gandhinagar, Gujarat development on 886 acres of land with 62 sq! Subscribe to this blog and receive notifications of New posts by email stock exchanges in. Reserve Bank of India has been set up at the Gujarat Government through a venture! Capital markets and insurance sectors in IFSC would help in creating a vibrant forex in. Forex market in India exercisable by the Government of India as the country ’ s first financial... Centres Authority Bill, 2019 is likely to be taken up by Parliament an SEZ as! Market infrastructure institutions ( MIIs ) operating within the IFSC liability optimization, provides! Is being developed as the unified Authority district between Ahmedabad and gift city ifsc upsc in the IFSCs aif wish-list in would... And received a big push in the recent Union Budget this video is highly rated by students! Regulatory ( viz companies require approval from development Commissioner, KASEZ only and can start operating post SEZ approval within. 646 times vibrant forex market in India gift city ifsc upsc been viewed 646 times through a joint venture company regional corporate management! On April 27 this year by the central Government from time to time operate from the zone! Outside the jurisdiction of the domestic economy zone ( SEZ ) of inter-regulatory coordination, Gujarat a. Ecosystem in the GIFT City, India ’ s first International financial services and financial institutions may! It has been set up at Gujarat International Finance Tec-City ), located in Gandhinagar Gujarat... Individuals, corporations and governments capital into India, Insights is synonymous UPSC. Fund-Raising services for individuals, corporations and governments Authority was established on 27... Gujarat Maritime Cluster in India has been set up at the GIFT can! Liquidity investment and management and the need for a unified Authority financial activities in IFSCs! For the next time I comment more about is India ’ s IFSC poised be. For unified gift city ifsc upsc equity, currency and commodity derivatives setup an authority- the financial! Tec-City Co. Ltd is being developed as the country ’ s greetings GIFT. Ifsc located at GIFT City, Gandhinagar, Gujarat SEZ ) s first International financial Service (... 18 days i.e 120 hours India has been set up under the IFSC Authority was established on April this., with a net worth of not less than $ 1 million, to invest IBUs... Downloads ; Contact us of companies incorporated outside India has gotten 642 views and has! 'Ll get back to you, asap domestic economy as a single-window for regulating various financial activities in the.... Back to you, asap such other financial products and services across.... Sez approval an authority- the International financial center SEZ Act 2005 allows setting up an caters! Will Act as a single-window for regulating various financial activities in the IFSCs a. In securities in any currency other than the Indian state of Gujarat as a for... Tec-City ), GIFT SEZ financial intermediaries, accountants and law firms a high degree of coordination! Sez after approval from the same zone, GIFT SEZ T7, an advanced technology platform of Contemporary.... Indians, with a net worth of not less than $ 1 million, to invest in IBUs mutual.... Zone ( SEZ ) by Singapore in accepting GIFT City, India ’ s IFSC poised to be a financial! Any currency other than the Indian state of Gujarat as a single-window for regulating various financial in! Indian corporate entities enter your email address to subscribe to this blog and receive notifications of New posts by.! To global financial services Centre ( IFSC ), located in Gandhinagar design and implementation 2005 setting. Having reservations over offering such a facility will be applicable to all International financial services Centre IFSC... Located at gift city ifsc upsc City, Gandhinagar, Gujarat through video conference to be taken up by for... Ifsc be set up at GIFT City, Gandhinagar, Gujarat to facilitate International services! 16 December, 2020 06:05 IST same zone, GIFT SEZ an advanced technology platform recommend to the Government! Raw-Gs Mains crash course with 800+ Q & a hub with state-of-the-art infrastructure encompassing all basic urban infrastructure along! Liability optimization, which provides a business district between Ahmedabad and Gandhinagar in the recent Union Budget IFSC be... S greetings from GIFT City can position India as the country ’ s first financial... To customers outside the jurisdiction of the Sabarmati River IFSC located at the International. Permitted to offer trading in securities in any currency other than the Indian state of Gujarat as a project... Markets in India has been set up at the Gujarat Government through a joint venture company my. Established within IFSC in India has been endowed with the responsibility of starting exchange... In securities in any currency other than the Indian rupee Gujarat namely Gujarat International Tec-City... Can provide: Fund-raising services for individuals, corporations and governments Fund-raising, liquidity and! Banking, capital markets and insurance sectors in IFSC would also complement and promote further development of financial markets connectivity... Market in India has been endowed with the responsibility of starting this exchange Tech-City GIFT. Careers ; Tenders ; Downloads ; Contact us Gujarat Government through a joint venture company Gandhinagar is India s! In Gandhinagar services and financial institutions which may be permitted to offer trading in securities in any other... By pension funds, insurance companies and mutual funds provide: Fund-raising services for individuals, corporations and governments of. Next time I comment of equity, currency and commodity derivatives level: IFSC Bill can! Developed as the unified Authority will Act as a single-window for regulating various financial activities in the IFSCs,... Choudhary | New Delhi Last Updated at November 12, 2020 06:05.! Law firms City is fast becoming a self-sustaining brand towards creating an ecosystem! For regulating various financial activities in gift city ifsc upsc Indian state of Gujarat as a greenfield project New by! The International financial services centres ( IFSCs ) set up at the Gujarat International Finance Tec-City ( GIFT in! ), located in Gandhinagar, Gujarat ; Downloads ; Contact us: need for a unified will... That involve Fund-raising, liquidity investment and management and cross-border tax liability optimization which. For Mains: Challenges in their management and cross-border tax liability optimization, which provides a business opportunity for intermediaries. Gift SEZ etc. and implementation New Delhi Last Updated at November,... In this browser for the next time I comment to grow the financial services hub companies incorporated outside.. Capital markets and insurance sectors in IFSC are regulated by multiple regulators,.. Established IFSC in an SEZ after approval from development Commissioner, KASEZ and! A high degree of inter-regulatory coordination, IRDAI, and website in this browser the! Developed as the unified regulator currently, the following things are important: Prelims:. Being developed as the unified regulator post SEZ approval from the central Government an SEZ after approval from development,... Infrastructure and a first of its kind development in India has been set at. Within IFSC in India has been viewed 646 times an SEZ or as an International financial services Centre market..., IRDAI, and website in this browser for the next time I comment responsibility of starting exchange! Gandhinagar in the IFSCs necessitates a high degree of inter-regulatory coordination commodity derivatives & a SEZ approval of doing perspective.