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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 […]

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

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.

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

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

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

New Dispute Resolution Framework proposed by Expert Panel for GIFT IFSC OVERVIEW: An expert panel set up for drafting rules for an international arbitration centre at GIFT City has sought changes to arbitration and mediation laws to ensure swifter out-of-court dispute resolution in the country’s first IFSC. Their responsibilities include outlining the regulatory structure and

Variable Capital Company Structure proposal to enhance IFSC GIFT City OVERVIEW:   The Union Budget 2024-25 introduces provisions to enable Variable Capital Company (VCC) structures in India, particularly in the GIFT IFSC. In the context of budget, approval will be sought to establish an efficient and flexible method for financing the leasing of aircraft and

Key Highlights of Budget 2024 for IFSC GIFT City  OVERVIEW: The Indian Budget presented on 23 July 2024 has brought forth a series of significant tax announcement aimed at bolstering the status of GIFT City as a premier global financial hub. These announcements introduce entended tax benefits, enhanced deductibility and new regimes designed to attract

SEBI allows Credit & ESG rating agencies to operate in IFSC GIFT City OVERVIEW: The Securities and Exchange Board of India (SEBI) has recently made a strategic move to invigorate the financial ecosystem within the International Financial Services Centres Authority (IFSCA) framework. Through a recently issued circular, SEBI has taken a two-pronged approach, simultaneously enabling