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Govt introduces IFSC Bill in Rajya Sabha

The International Financial Services Center Authority Bill, 2019 mandates transaction of financial services in the IFCS shall be governed by an Authority headed by a Chairman.

IFSC banking units at GIFT record $100 million transactions

Two banks — YES Bank and Federal Bank — have generated such brisk business within three months of their IFSC banking units (IBUs) becoming operational at GIFT IFSC, stated an official release.

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Bandra Kurla Complex cannot work as IFC until regulatory issues are sorted out

It was supposed to be the global financial centre on the lines of London, Tokyo or New York. A decade after it was first announced, plans for an IFC at the city’s business district are still work in progress.

BKC boundary may see slight extension to qualify as SEZ for IFSC

Needs to show contiguous area of 50 hectares, minimum requirement for a multi-services Special Economic Zone.

Bandra Kurla Complex: Maharashtra wants Centre to relax SEZ rules for Mumbai IFSC

While an SEZ can be declared for a minimum area of 50 hectares, MMRDA has set aside 20 hectares in BKC for the IFSC; state to soon send formal proposal.

Centre keen to get more banks, insurers in IFSC

Financial services secy has urged chiefs of banks and insurance firms to use facilities in GIFT City.

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Extra care taken while framing IFSC rules: RBI

"Earlier we have been hesitant... but now we feel it is time for IFSCs to come on to the scene," says RBI Deputy Governor, R Gandhi.

Arun Jaitley to unveil IFSC rules on April 10

So far, both BSE and NSE have evinced interest in setting up international exchange within the IFSC in Gujarat.

Reserve Bank prescribes tough norms for IFSC banking units

RBI said banks will be required to provide a minimum capital of $ 20 million to the IFSC banking units (IBU).

Foreign bourses can set up units in IFSC: Sebi

India’s first IFSC is being set up at GIFT City near Ahmedabad in Gujarat.

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