Under what conditions can financial services be offered by units in an International Financial Service Centre (IFSC) to non-residents, according to the Ministry of Finance's notification?
The government has expanded the scope of activities that can be undertaken at the International Financial Services Centre (IFSC) by including services such as bookkeeping, and accounting. As per a gazette notification issued by the Ministry of Finance, various services, including book-keeping, accounting, taxation, and financial crime compliance, have been included as part of financial services. Provided that the financial services shall be offered by units in an International Financial Service Centre regulated by the International Financial Services Centres Authority (IFSCA) to non-residents whose business is not set up either by splitting up of business already in existence in India; or reconstructing/reorganising of business already in existence in India.These units should not offer services by way of transferring or receiving existing contracts or work arrangements from their group entities in India.
As per the recently published discussion paper on expected credit loss model for banks the model proposes to compute ECL (depending on whether there has...
Which of the following statements about the Indian budget is incorrect?
Which of the following lowers the interest rate risk by neutralizing the inflation risk?
Credit Information Bureau (India) Limited CIBIL is India’s credit information bureau which provides consumers credit scores to a closed user group of...
What is the full form of MCLR?
What is the minimum tradable amount at which treasury bill is quoted in secondary market?
Which company’s subsidiary has launched a bonds platform for retail investors in India to enable retail investors to invest in three types of bonds - ...
In case of upgradation of pension contribution under Atal Pension Yojana, the subscribers have to pay the differential amount of contribution at the ...
Which of the following is/are true about the Sub-Prime Crisis?
1) It is a mortgage crisis referring to credit default by the borrowers.
<...According to the Union Budget 2023-24, consider the following statements.
1)During FY 2021-22, agricultural exports reached an all-time high of U...