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5 3.2 Can FPIs/ EFIs trade in commodity derivatives? … Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat's GIFT City, several initiatives at policy, regulatory and Our IFSC Gift City branch will focus on External Commercial Borrowings, Export Trade Finance and Financial Market Products and we will explore other business opportunities when the new IFSC regulations are introduced.” --- ENDS --- For further information please contact: Rahul Virkar Head – External Communications Standard Chartered Bank, India Phone: +91 22 61158632 Mobile: +91 … GIFT City is a planned business district in Gujarat, India. 1 0 obj India: Season's Greetings From Gift City: AIF Wish-List In IFSC 14 December 2020 . The IFSC in GIFT City (IFSC-GIFT) is being developed as a global financial and information technology services hub designed to be at or above par with globally benchmarked financial centres such as London, Hong Kong, Singapore, and Dubai. IFSCs are generally classified into four. GIFT IFSC is a Multi Services Special Economic Zone with 105 hectors of land and commenced its business in April 2015. StockHolding Securities IFSC Limited (SSIL), a wholly owned subsidiary of StockHolding Corporation of India Limited (StockHolding) launched their IFSC business at GIFT City, India’s only operational International Financial Services Centre. The guidelines contained in this circular will be applicable to IBUs set up in GIFT as well as in other IFSCs which may be set up in India. IFSC in GIFT City is conceptualized and designed on par with other global financial centers in Hong Kong, Dubai, Singapore etc. ANI 09 Dec 2020, 18:37 GMT+10. Know More. GIFT is being developed as a global financial and IT Services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centres. The presence in IFSC GIFT City gives the Bank an opportunity to expand its business in trade, Photo: Hemant Mishra/Mint Introduction to IFSC and GIFT City. It facilitates a base for world class International Banking services in the country. Nirmala Sitharaman, It is the new business destination offering competitive edge to Financial services and Technology related activities. Listing of First Depository Receipts on NSE IFSC. Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat's GIFT City, seve As an IFSC, GIFT City is regulated under specific regulations and guidelines by India's major financial sector regulators, i.e. It is being developed as a global financial services hub. GIFT’s Master Plan facilitates Multi Services SEZ with International Financial Services Centre (IFSC) status, Domestic Finance Centre and the associated Social infrastructure. \r�J9.P^�c��Dc=�E��Q����8X[r��@�h��@S���*x�hx.�PK��@mi&r�j�a���a�N�*�d�߂x�*�p��Y�P'�Y��B�y����)�O Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat’s GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. The BSE will invest Rs150 crore in Gujarat’s GIFT City to develop India’s first international financial services centre (IFSC). Circulars on IFSC. Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat\\'s GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. 1. India has been witnessing a high growth in the investment funds domain, ranging from fund-raising activity to active investments by funds, and also an adaptive and dynamic regulatory environment conducive to the witnessed growth. IFSC has the potential to become an investment gateway for India as apart from providing a global financial platform, … IFSC. �~� ~�B۝��Ԣ�U Real Estate Investment Trusts in International Financial Services Centres . The country's only International Financial Services Centre (IFSC) is in GIFT City near Ahmedabad in Gujarat. Under the IFSC guidelines, stocks exchanges established within IFSC in GIFT City may permit dealing in equity shares of companies incorporated outside India. 2 0 obj 2.7 Does FPIs/EFIs need physical presence in the IFSC Gift City? RBI, SEBI and IRDAI. Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat’s GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. Firstly, it defeats the purpose of setting up an IFSC — attracting foreign investment, and not investments by Indians. The Government of India has established IFSC in Gujarat namely Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. India’s first operational smart city and international financial services centre The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. You may be aware that Government of India has already announced setting up of an IFSC in Gujarat namely Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. endobj The RBI has several reservations over allowing the scheme for GIFT City. at the hands of Honorable Minister of Finance & Corporate Affairs Smt. Question Answer 2.7 Does FPIs/EFIs need physical presence in the IFSC Gift City? To counter this unabated export of Indian products to such international financial centres, India has established its own IFSC at GIFT City, Gandhinagar to develop an international financial centre in India, rivalling the likes of Singapore and Hong Kong. IFSC has the potential to become an investment gateway for India as apart from providing a global financial platform, … endobj Inauguration of the. It is estimated that GIFT requires 5.76 million sq m of real estate office and residential space. The latest Global Financial Centers Index, London in September 2020 mentions the IFSC NSE lists ADRs at NSE IFSC in GIFT City. MUMBAI: Hong Kong-headquartered HSBC is setting up an international financial services center (IFSC) banking unit at GIFT City. <> It has 19 insurance entities and 40 banking entities. The International Financial Services Centre Authority, vide its circular dated 9 December 2020, titled "Alternative Investment Funds (AIFs) in International Financial Services Centres (IFSC)" (Circular) seems to have uplifted the spirits of fund managers and investors, both in India and globally. Liquidity-Enhancement-Scheme. 3 0 obj GIFT City Co Ltd, which is implementing the GIFT City project in Gandhinagar, is a 50:50 joint venture between Infrastructure Leasing and Financial Services Ltd (IL&FS) and state government-owned Gujarat Urban Development Company Ltd. This proposed new exchange is intended to grow the financial market as well as expected to bring capital into India. 4 0 obj India International Exchange (IFSC) Limited (India INX) - India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). IFSC has the potential to become an investment gateway for India as apart from providing a global financial platform, it also provides an easy access to the fast … It is supported by state-of-the-art infrastructure encompassing all basic urban infrastructure elements along with an … An integrated development with Walk to Work concept adds immense value to the business activities. Read all news including political news, current affairs and news headlines online on Gift City Ifsc today. NSE lists ADRs at NSE IFSC in GIFT City. Stock exchanges operating in the GIFT IFSC will be permitted to offer trading in securities in any currency other than the Indian rupee. ��F���}>��/~>�|ZL�/F�w�Qu7�Z^Ux�����lhU�p:p~W�vr �d�k�.o�/�� =�77�u�D�}��gv����w��w��ċ�=��ɼ�����ϫW@����97�4�Q�, International Financial Service Centre - Frequently asked questions by offshore investors. ANI | Updated: Dec 09, 2020 13:42 IST. The GIFT City was India's first International Financial Services Centre (IFSC) and was set up through the SEZ (Special Economic Zone) Act of 2005. stream Market Access through Authorized Persons. The Centre’s gazette notification, dated April 27, said the IFSC Authority would be based at Gandhinagar, in Prime Minister Narendra Modi’s home-state, where the Gujarat International Finance Tec-City (GIFT) is located, instead of Mumbai, which was a claimant for the status. •In India, an IFSC is approved and regulated by the Government of India under the Special Economic Zones Act, 2005 •Government of India has approved GIFT ity as a Multi Services Special Economic Zone (‘GIFT SEZ’) and has also notified this zone as India’s IFS •The launch of the IFSC at GIFT City is the first step towards bringing financial services transactions relatable to India, back to Indian … KOLKATA: The international bullion exchange at the International Financial Services Centre (IFSC) in Gujarat’s GIFT City will likely become operational by July-August this year, paving the way for a large chunk of gold trading shifting from Dubai to India, the largest consumer of the metal in the world. The purpose of setting up the GIFT City is to develop a world class smart city that becomes a global financial hub with the development of an International Financial Services Centre (IFSC). Gujarat International Finance Tech-city (GIFT) SEZ is India’s first International Financial Services Centre (IFSC) under Special Economic Zone Act, 2005 (“SEZ Act 2005”). Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat’s GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. By. Get all the live Quotes on INDIA 50 Futures and options, real time prices of Equity, currency and commodity derivatives. And Technology related activities data processing, the Reserve bank of India ( )... Ifsc today business district promoted by the Gujarat government through a joint venture.. The potential to become a centre of International Finance Tec-City ( GIFT ) in Gandhinagar,.. 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