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    Question

    Consider the following Statements and choose the option with correct Statements.

    I- India had five major financial centres previously, namely, Mumbai, New Delhi, Kolkata, etc.

    II- GIFT-City in Gujarat is the first and the only international financial services centre in India, as of now.

    III- The difference between a simple financial centre and an international financial centre (IFC) is that IFCs cater to customers outside their own jurisdiction and deal with the flow of finance and financial products/services across borders.

    A Only I Correct Answer Incorrect Answer
    B I & II Correct Answer Incorrect Answer
    C II & III Correct Answer Incorrect Answer
    D Only III Correct Answer Incorrect Answer
    E I, II & III Correct Answer Incorrect Answer

    Solution

    While India had two major financial centres previously, namely, Mumbai and New Delhi, GIFT-City in Gujarat is the first and the only international financial services centre in India, as of now. The difference between a simple financial centre and an international financial centre (IFC) is that IFCs cater to customers outside their own jurisdiction and deal with the flow of finance and financial products/services across borders.

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