IRB Infra lists $540 Million foreign currency bonds on ′India INX′ OVERVIEW- IRB Infrastructure Developers Ltd (IRB) on February 22 said its board of directors has approved a fundraise of up to $540 million through foreign currency bonds. The bonds, carrying a coupon rate of 7.11%, are set to mature in eight years, marking a […]
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FATF Compliance in IFSC GIFT City What is FATF? The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and
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Maintenance of Net Worth by Fund Management Entity OVERVIEW- The International Financial Services Centres Authority (IFSCA) is pivotal in overseeing and regulating financial operations within International Financial Services Centres (IFSCs). In a recent circular, IFSCA underscores the significance of maintaining net worth for Fund Management Entities (FMEs) functioning within IFSCs. This emphasis on maintaining net
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Constitution of a Standing Committee on Primary Markets OVERVIEW: On January 24, 2024, the Indian government introduced the Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2024, and the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024. This move allows public Indian companies to directly list equity shares on International Exchanges in
Constitution of a
Standing Committee
on Primary Markets Read More »
Monitoring of Investments from Countries Sharing Land Border with India OVERVIEW: The Government of India issued new regulations, known as the Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2024 (NDI Rules), and the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024, on January 24, 2024. These rules allow Indian public companies
Monitoring of
Investments from
Countries Sharing
Land Border with India Read More »
IFSCA (PAYMENT SERVICES) REGULATIONS 2024 OVERVIEW: The International Financial Services Centres Authority (IFSCA) announced the Payment Services Regulations, 2024, which were officially published in the gazette on January 30, 2024. By facilitating these services from the International Financial Services Centre (IFSC), the regulations empower financial institutions within the IFSC to both offer and receive
IFSCA (PAYMENT
SERVICES)
REGULATIONS 2024 Read More »
Norms for Capital Market Intermediaries OVERVIEW: The International Financial Services Centres Authority (IFSCA) has released a significant circular concerning the reporting standards applicable to Capital Market Intermediaries (CMIs) functioning within the International Financial Services Centre (IFSC). Issued on February 8, 2024, this circular delineates the revised criteria and protocols for CMIs to adhere to
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Anti-Money Laundering Compliance In IFSCA WHAT IS MONEY LAUNDERING? These are such illicit activities where the legitimacy of the illegally obtained proceeds is proved. Money laundering has the potential to support criminal activities like drug trafficking and terrorism, posing significant threats to the global economy. PHASES OF MONEY LAUNDERING : Placement
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HDFC Bank secures $750 Million funding from GIFT City IFSC BACKGROUND : In a recent development, HDFC Bank secured $750 million from the GIFT City International Financial Services Centre (IFSC) in Gandhinagar, Gujarat. The funding was obtained through a combination of USD denominated senior unsecured bonds, including sustainability bond. WHAT IS THE SIGNIFICANCE OF
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GIFT City Tax Benefits Extended by Interim Budget 2024 The one-year extension will increase registrations at the GIFT City IFSC INTERIM BUDGET 2024 – KEY HIGHLIGHTS: India’s Interim Budget, 2024 delivered by the Finance Minister on 1st February, 2024, laid out the government’s spending plans for the first half of the upcoming fiscal year.
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