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To bolster the development of IFSC, the Government took a major policy decision to establish the first of its kind, unified and agile financial sector regulator for IFSCs viz International Financial Services Centers Authority (IFSCA) through an Act of Parliament in 2019. From 1st October 2020, IFSCA assumed the power of four domestic sector regulators, namely RBI, SEBI, IRDAI & Pension Fund Regulatory and Development Authority of India (PFRDAI), in so far as the development and regulation of IFSCs in India were concerned. Hence it is a Statutory Body. The foundation has been laid for creating a thriving knowledge economy by allowing foreign universities to set up operations in IFSC free of domestic regulations. Simultaneously, external assistance is mobilised to establish India’s premier Fintech Institute and Innovation Centre in GIFT City. GIFT city is India’s first greenfield smart city with a focus on creating financial hub in the region.
Which state recently joined the Ayushman Bharat PM-JAY scheme?
Sections 45 & 45A of the Indian Evidence Act have been combined in which section of the Bharatiya Sakshaya Adhiniyam, 2023?
Where was the Global Soil Conference 2024 held, and what was its primary focus?
What is the projected cargo capacity of the Vadhvan Port by 2029?
Who among the following participate in the Government Securities market?
How much subsidy is the Centre providing to IOC, BPCL, and HPCL to offset LPG losses?
What is the estimated cost of the Indo-Russian Vande Bharat sleeper train project, including manufacturing and maintenance?
Which organization has partnered with IIT Madras to develop the Indigenous RISC-V Controller for Space Applications (IRIS)?
Lasoong Festival is celebrated in which Indian state?
When was Unified Payments Interface (UPI) launched?