Allowing rupee derivatives(with settlement in foreign currency)
to be traded in International Financial Services Centres(Ifscs).
Rupee derivatives(with settlement in foreign currency) will
be allowed to be traded in International Financial Services Centres(Ifscs).
Recommend to the Central Government such other financial products,
financial services and financial institutions which may be permitted in the Ifscs.
The banking, capital markets and insurance sectors in Ifscs are regulated by multiple regulators like the RBI,
SEBI, and IRDAI respectively.
It may also recommend to the central government such other
financial products, financial services and financial institutions which may be permitted in the Ifscs.
It may also recommend to the central government such other financial products,
financial services and financial institutions which may be permitted in the Ifscs.
The Authority shall regulate all such financial services, financial products and FIs in an
IFSC which has already been permitted by the Financial Sector Regulators for Ifscs.
Functions of the Authority: The Authority shall regulate all such financial services, financial products and
FIs in an IFSC which has already been permitted by the Financial Sector Regulators for Ifscs.
This will provide a stimulus for further development of Ifscs in India
and enable bringing back of financial services and transactions that are currently carried out in offshore financial centres to India.
Taking into account the regulatory requirements of Ifscs and the provisions of the existing laws of financial sector,
the Department of Economic Affairs(DEA), Ministry of Finance(MoF) has prepared a draft Bill to set up a separate unified regulator for Ifscs.
Taking into account the regulatory requirements of Ifscs and the provisions of the existing laws of the financial sector,
the Department of Economic Affairs(DEA), Ministry of Finance(MoF) has prepared a draft Bill to set up a separate unified regulator for Ifscs.
Taking into account the regulatory requirements of Ifscs and the provisions of the existing laws of financial sector,
the Department of Economic Affairs(DEA) at the Ministry of Finance has prepared a draft Bill to set up a separate unified regulator for Ifscs.