Parliament Paves Way for Unified Regulator for Financial Services
On 12th December, 2019, the Rajya Sabha passed the International Financial Services Centres (IFSCs) Authority Bill, 2019, which provides for the establishment of an Authority to develop and regulate the financial services market in the International Financial Services Centres in India.The first IFSC in India was set up at Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat.
Key features
- Coverage: It will apply to all International Financial Services Centres (IFSCs) set up under the Special Economic Zones Act, 2005.
- International Financial Services Centres Authority: It mandates to set up the International Financial Services Centres Authority, consisting of nine members, appointed by ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Scheme for Strengthening Medical Device Industry
- 2 Regulatory Framework for Restricted Return InvITs
- 3 World’s First Co2 to Methanol Plant
- 4 Peak Oil
- 5 India’s Renewable Energy Sector Achieves Significant Growth
- 6 4th Phase of Consolidation of RRBs
- 7 RBI’s Framework for Reclassification of FPI to FDI
- 8 RBI’s 2024 List of Domestic Systemically Important Banks
- 9 Windfall Gain Tax
- 10 National Mission on Natural Farming
- 1 Group of Ministers Set Up To Review Crop Insurance Scheme
- 2 RBI’s Operation Twist to Boost Lending
- 3 Government Notifies The Taxation Laws (Amendment) Act, 2019
- 4 Extension for Sabka Vishwas Scheme
- 5 Government Launches Data Bank of Independent Directors
- 6 Silver Line Project
- 7 Cabinet Authorises NHAI to Set Up Infrastructure Investment Trust
