Month: August 2024

Government Eases Rules for Direct Listing of Indian Companies at GIFT IFSC OVERVIEW:   The Government of India has recently eased the listing requirements for Indian companies seeking to list on international exchanges within International Financial Service Centres (IFSCs). This move is part of a significant amendment to the Securities Contracts (Regulation) Rules, 1957, which …

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Global Financial Giants Open Branches and Invest in GIFT City OVERVIEW:   GIFT City, India’s first operational smart city and International Financial Services Center (IFSC), is rapidly emerging as a preferred destination for global financial players and innovative fintech companies. Companies such as Paytm, BNP Paribas, SMBC, and Mynd IFSC have decided to grow their …

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Simplifying the IFSC Journey with new IFSCA (Informal Guidance) Scheme, 2024 OVERVIEW:   The International Financial Services Centres Authority (IFSCA) has issued a consultation paper on proposed International Financial Services Centres Authority (Informal Guidance) Scheme, 2024. This scheme is designed to help financial institutions and individuals operating or planning to operate within an International Financial …

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New Framework for Third-Party Fund Management Services Proposed by IFSCA OVERVIEW: The International Financial Services Centres Authority (IFSCA) has issued a consultation paper proposing to introduce a new framework for third- party fund management services. This paper specifically addresses the industry’s request foe enabling third- party fund management services, informally known as ‘Platform Play’ for …

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ViewTrade Expands Global Presence ViewTrade Expands Global Presence with New office in GIFT IFSC OVERVIEW:   ViewTrade Holding Corporation (ViewTrade), a prominent brokerage and fintech solutions provider, has expanded its global presence by establishing a new office in GIFT City. VTI IFSC has obtained an IFSC trading member license with the National Stock Exchange IFSC …

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Trading of Soverign Green Bond and FPI Participation in GIFT IFSC OVERVIEW: The Reserve Bank of India (RBI) Governor, Shaktikanta Das, announced thE trading of Sovereign Green Bonds (SGBs) at the International Financial Services Centre (IFSC) in GIFT City. This development aligns with India’s commitment to promoting sustainable finance and facilitating investments in green projects. …

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Rolls-Royce & Partners to establish Aircraft Engine Leasing Entity in GIFT City OVERVIEW:   The UK-based Rolls-Royce & Partners Finance (RRPF) , a globally recognized name in aviation, has applied to establish an aircraft engine leasing unit in the GIFT City. The entity, named RRPF Engine Leasing (India) IFSC Pvt Ltd, will focus on leasing …

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Proposed Amendments under IFSCA(Fund Management) Regulations, 2022 OVERVIEW: The International Financial Services Centres Authority (IFSCA) has released a consultation paper on the ‘Review of IFSCA (Fund Management) Regulations, 2022, which is open for public comment until August 26, 2024 The paper outlines proposed amendments aimed at enhancing the regulatory framework governing fund management in the …

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REC Limited to establish Subsidiary in GIFT IFSC OVERVIEW: REC Limited, a ‘Maharatna’ company under the administrative control of the Ministry of Power, has applied to open a subsidiary in GIFT CITY. This move will enable the company to start financing offshore projects. The move alings with the company’s broader goals of exploring global opportunities …

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