Question
International Financial Services Centres Authority
(IFSCA) is an authority to develop and regulate financial services, financial products and financial institutions in the International Financial Services Centre (IFSC) in India. It was created under the International Financial Services Centres Authority Act of __________.Solution
The IFSCA was established in April 2020 under the International Financial Services Centres Authority Act, 2019. It is a statutory authority established by the Indian Government. It is an authority to develop and regulate financial services, financial products and financial institutions in the International Financial Services Centre (IFSC) in India. Currently, there is only one IFSC being developed in India, Gift City, in Gandhinagar, Gujarat. Â
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