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To bolster the development of IFSC, the Government took a major policy decision to establish the first of its kind, unified and agile financial sector regulator for IFSCs viz International Financial Services Centers Authority (IFSCA) through an Act of Parliament in 2019. From 1st October 2020, IFSCA assumed the power of four domestic sector regulators, namely RBI, SEBI, IRDAI & Pension Fund Regulatory and Development Authority of India (PFRDAI), in so far as the development and regulation of IFSCs in India were concerned. Hence it is a Statutory Body. The foundation has been laid for creating a thriving knowledge economy by allowing foreign universities to set up operations in IFSC free of domestic regulations. Simultaneously, external assistance is mobilised to establish India’s premier Fintech Institute and Innovation Centre in GIFT City. GIFT city is India’s first greenfield smart city with a focus on creating financial hub in the region.
Which term is used for extending financial support to a company or a country facing a potential bankruptcy threat?
1. Which of the following is not a permanent member of United Nation Security Council (UNSC)?
In which Indian state is the Vishnupad Temple located?
Which amongst the following does not has headquarter in Geneva, Switzerland?
‘Gugga Naumi’ – the festival celebrated in Haryana and some parts of Punjab, Rajasthan, UP and Himachal Pradesh ______ is known as the festival of...
Which of the following crops is covered for price control under the price stabilization fund of the Government of India?
When was the first National Panchayati Raj Day observed in India?
Which nation is a part of the Quad Cyber Challenge aimed at improving cybersecurity awareness?
What does UPI stand for in the context of digital payments?
When is the International Day of Women Judges observed?