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Global Fintech Fest 2023 : IRDAI Chairperson Debashish Panda says IRDAI exploring flexible, DIY insurance products "IRDAI is actively pursuing reforms in the insurance sector to enhance its adaptability and responsiveness. We are currently at a juncture marked by personalized offerings and shifting consumer preferences. To meet these changes, we are exploring flexible, do-it-yourself insurance products, leveraging advisory technologies and digital assistants. We anticipate a future where insurers can efficiently manage large and diverse data sources, harnessing quantum computing to revolutionize...
Global Fintech Fest 2023 : IRDAI Chairperson Debashish Panda says IRDAI exploring flexible, DIY insurance products
Global Fintech Fest 2023 : IRDAI Chairperson Debashish Panda says IRDAI exploring flexible, DIY insurance products
Source: PR Agency
7/09/2023 11:40:48 AM
Domestic companies can now go in for direct listing on foreign exchanges and IFSC: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that domestic companies can now go in for direct listing on foreign exchanges and the International Financial Services Centre (IFSC) in Ahmedabad. The provisions for direct overseas listing were approved by the government, as part of the Covid relief package announced in May 2020, but the rules in this regard are yet to be notified. The direct overseas listing will allow Indian companies to access foreign funds on various exchanges overseas. The...
Domestic companies can now go in for direct listing on foreign exchanges and IFSC: FM Nirmala Sitharaman
Domestic companies can now go in for direct listing on foreign exchanges and IFSC: FM Nirmala Sitharaman
Source: Accord Fintech
31/07/2023 11:54:57 AM
India lets firms list on Narendra Modi's flagship finance hub to draw foreign capital India has allowed its firms to list on exchanges registered in a new financial hub in the western state of Gujarat, Finance Minister Nirmala Sitharaman said on Friday, to give companies access to easier and cheaper foreign capital. Listed and unlisted companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT), which is Prime Minister Narendra Modi's flagship project. "I'm pleased to an...
India lets firms list on Narendra Modi's flagship finance hub to draw foreign capital
India lets firms list on Narendra Modi's flagship finance hub to draw foreign capital
Source: Reuters
29/07/2023 12:30:35 PM
India central bank permits banks to offer non-deliverable fx derivatives to resident users The Reserve Bank of India said it is proposing to permit banks with IFSC banking units to offer non-deliverable forex derivative contracts involving the Indian rupee to resident users in the onshore market. IFSC Banking Unit or an "IBU" is a bank permitted by the Reserve Bank of India to operate from an International Financial Services Centre (IFSC). IFSC banking units were earlier permitted to transact in rupee NDF forex derivatives contracts with non-residents and with other...
India central bank permits banks to offer non-deliverable fx derivatives to resident users
India central bank permits banks to offer non-deliverable fx derivatives to resident users
Source: Reuters
6/04/2023 11:08:14 AM
Indian professionals to benefit from Hong Kong's new talent scheme The vast Indian talent pool in fintech, logistics and banking sectors is set to benefit from Hong Kong's new visa scheme, which was announced recently to stem a brain drain that has risked the city's status as an international financial centre. With the city's workforce shrinking by about 140,000 people over the last two years, Chief Executive John Lee announced the "Top Talent Pass Scheme" this month, which includes incentives for high earners and top university gr...
Indian professionals to benefit from Hong Kong's new talent scheme
Indian professionals to benefit from Hong Kong's new talent scheme
Source: IANS
30/10/2022 1:55:09 PM
RBI Governor stresses fintech`s role as a force multiplier RBI Governor Shaktikanta Das in his address to the Global Fintech Fest (GFF) 2022 marked the theme of his talk as  Fintech as a Force Multiplier. "Technology, innovation and fintech are working in tandem and contributing to the dynamism of the sector. In our journey towards higher level of sustainable development and financial inclusion, these forces morphed into force multipliers," Das said. "We see lot of opportunities not only for enhancing the scope and depth of ...
RBI Governor stresses fintech`s role as a force multiplier
RBI Governor stresses fintech`s role as a force multiplier
Source: IANS
21/09/2022 9:55:23 AM
Sweden, India strengthen financial cooperation with formal exchange between FI & IFSCA Swedens financial supervisory authority, Finansinspektionen (FI), formally exchanged a Memorandum of Understanding (MoU) in relation to mutual cooperation with Indias International Financial Services Centres Authority (IFSCA), in the presence of Prime Minister Narendra Modi. The event marked a significant leap between the two partner nations, strengthening their financial cooperation. The MoU sets forth a statement of intent of the Authorities to establish a framework for mutual assista...
Sweden, India strengthen financial cooperation with formal exchange between FI & IFSCA
Sweden, India strengthen financial cooperation with formal exchange between FI & IFSCA
Source: IANS
1/08/2022 1:39:54 PM
Pilot launch of International Bullion Exchange at IFSC Gift City  The International Financial Services Centre, Gujarat has pilot launched the International Bullion Exchange on its platform. The International Bullion Exchange is scheduled to go live on October 1, the Foundation Day of International Financial Services Centres Authority (IFSCA). Following the announcement by Finance Minister Nirmala Sitharaman in Union Budget 2020-21, the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 were notified on Decemb...
Pilot launch of International Bullion Exchange at IFSC Gift City
Pilot launch of International Bullion Exchange at IFSC Gift City
Source: IANS
19/08/2021 9:38:13 AM
IFSCA proposes capital market intermediary regulations for IFSC The International Financial Services Centres Authority (IFSCA) proposes to enact a regulatory framework for the intermediaries in the capital markets operating in IFSC, focusing on ease of doing business and consistent with the fundamental principles laid down by International Organization of Securities Commissions. As part of the process, the Authority has issued a consultation paper on the proposed Intermediaries Regulations and invited comments and suggestions on it by August 18, 2021. ...
IFSCA proposes capital market intermediary regulations for IFSC
IFSCA proposes capital market intermediary regulations for IFSC
Source: IANS
29/07/2021 2:54:15 PM
India plans to create Longevity Finance Hub in Gujarat The Centre proposes to develop the Gujarat-based GIFT International Financial Services Centres (IFSC) as a 'Longevity Finance Hub' to cater to the investment and wealth management needs of the 'silver generation' comprising individuals aged 60 years and older. As part of this initiative, the International Financial Services Centres Authority (IFSCA) has constituted an Expert Committee to recommend approach towards development of a Longevity Finance Hub and provide a road ma...
India plans to create Longevity Finance Hub in Gujarat
India plans to create Longevity Finance Hub in Gujarat
Source: IANS
15/07/2021 9:26:58 AM
Framework for International Trade Finance Services Platforms issued The International Financial Services Centres Authority (IFSCA) has issued a framework for setting up and operating International Trade Finance Services Platform (ITFS) for providing Trade Finance Services at International Financial Services Centres (IFSCs). The framework will enable exporters and importers to avail various types of trade finance facilities at competitive terms, for their international trade transactions through a dedicated electronic platform viz, ITFS. This is expected to...
Framework for International Trade Finance Services Platforms issued
Framework for International Trade Finance Services Platforms issued
Source: IANS
13/07/2021 8:38:34 AM
Expert panel on Variable Capital Company submits report to IFSCA An expert committee has suggested separate legal framework akin to Variable Capital Company (VCC) for the purpose of conducting fund management activity in the International Financial Services Centres (IFSCs). In its report submitted to International Financial Services Centres Authority (IFSCA) Chairperson Injeti Srinivas, the K.P. Krishnan-headed expert committee on feasibility of VCCs in the IFSCs recommended that a legal framework governing entities that undertake fund management would ...
Expert panel on Variable Capital Company submits report to IFSCA
Expert panel on Variable Capital Company submits report to IFSCA
Source: IANS
2/06/2021 11:05:54 AM
Nilesh Shah to head IFSCA`s expert panel on investment funds The International Financial Services Centres Authority (IFSCA) has constituted an Expert Committee on Investment Funds under the chairmanship of Kotak Mahindra Asset Management Co Ltd MD Nilesh Shah. The committee will recommend the authority on the roadmap for the funds industry in the International Financial Services Centres (IFSCs). It comprises of leaders from the entire fund management ecosystem including from areas such as technology, distribution, legal, compliance, and operation...
Nilesh Shah to head IFSCA`s expert panel on investment funds
Nilesh Shah to head IFSCA`s expert panel on investment funds
Source: IANS
26/05/2021 9:06:19 AM