IFSCA full form
The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. it’s headquartered at GIFT City, Gandhinagar in Gujarat.
Role of IFSCA
The IFSCA is a unified authority for the event and regulation of economic products, financial services and financial institutions within the International Financial Services Centre (IFSC) in India. At present, the GIFT IFSC is that the maiden international financial services centre in India. before the establishment of IFSCA, the domestic financial regulators, namely, RBI, SEBI, PFRDA and IRDAI regulated the business in IFSC.
As the dynamic nature of business within the IFSCs requires a high degree of inter-regulatory coordination within the financial sector, the IFSCA has been established as a unified regulator with a holistic vision so asto marketeasy doing business in IFSC and supply world class regulatory environment. the most objective of the IFSCA is to develop a powerful global connect and specialize inthe wants of the Indian economy furtheronfunctiona world financial platform for the complete region and also the global economy as an entire.
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