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      Question

      Which of the following types of companies are not

      permitted to set up operations in GIFT City's IFSC?
      A Banking companies Correct Answer Incorrect Answer
      B Insurance companies Correct Answer Incorrect Answer
      C Asset management companies Correct Answer Incorrect Answer
      D Manufacturing companies Correct Answer Incorrect Answer
      E Manufacturing companies Correct Answer Incorrect Answer

      Solution

      GIFT City's IFSC is primarily meant for financial services companies, and therefore, manufacturing companies are not permitted to set up operations in the IFSC. However, banking companies, insurance companies, and asset management companies are permitted to set up operations in GIFT City's IFSC. The IFSCA has laid down regulations and guidelines for these companies to follow.   Option D is correct.

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