Question

Consider the following statements about International Financial Services Centres Authority (IFSCA).

I. IFSCA consist of nine members, appointed by the government of India.

II. It also include a member each from the RBI, SEBI, IRDAI and the PFRDA.

III. All members of the IFSC Authority have a term of 2 years.

Which of the following statement is/are correct?

A I Correct Answer Incorrect Answer
B II Correct Answer Incorrect Answer
C III Correct Answer Incorrect Answer
D All statements are correct Correct Answer Incorrect Answer
E All statements are incorrect Correct Answer Incorrect Answer

Solution

  • IFSCA will consist of nine members, appointed by the central government.
  • They include chairperson of the authority, a member each from the RBI, SEBI, IRDAI, PFRDA and two members from the Ministry of Finance. In addition, two other members will be appointed on the recommendation of a Selection Committee.
  • All members of the IFSC Authority will have a term of three years.
  • IFSCA was established on April 27, 2020 with head office in Gandhinagar with an objective to develop the financial products and services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC).

Practice Next
×
×