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      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).

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