Ancillary Services Addendum: Enabling Ship Broking and Voice Broking in International Financial Services Centres (IFSC)   Introduction The International Financial Services Centres Authority (IFSCA) has introduced new measures to enable ancillary services in International Financial Services Centres (IFSCs). This article discusses the recent circulars issued by the IFSCA that enable ship broking and voice broking services within IFSCs. These services aim to facilitate the activities of ship lessors, lessees, and entities in the banking sector. […]

Utilization of Office Space and Manpower in Aircraft Leasing in IFSC Introduction To enhance the efficiency and ease of doing business for aircraft leasing entities in the International Financial Services Centre (IFSC), the IFSCA has implemented new measures. This article discusses the utilization of office space and manpower by entities involved in aircraft leasing activities within the IFSC. Circular on Office Space and Manpower Sharing The IFSCA has issued a circular enabling registered aircraft leasing […]

India International Bullion Exchange (IIBX): Recent Developments and Achievements   GIFT SEZ Implements ICEGATE for Streamlined Operations GIFT SEZ, the leading Special Economic Zone in India, has achieved a significant milestone by becoming the first SEZ in the country to implement ICEGATE. This migration from the SEZ Online system to ICEGATE was successfully completed in May 2023. The adoption of ICEGATE brings enhanced efficiency and streamlined operations to GIFT SEZ, setting a benchmark for other […]

IFSCA’s Contribution to Sustainable Finance during India’s G20 Presidency Introduction As a domestic knowledge partner of the G20 Sustainable Finance Working Group (SFWG), the International Financial Services Centre Authority (IFSCA) has played a crucial role in India’s G20 Presidency. IFSCA’s ambition to develop the GIFT IFSC as a global hub for sustainable finance aligns with its active participation in the G20 SFWG. This article highlights some of the significant contributions made by IFSCA during this […]

Implementation of Risk-Based Supervision (RBS) at IFSCA   The International Financial Services Centres Authority (IFSCA) is responsible for regulating and developing the financial ecosystem in the IFSC, which includes banking, capital markets, insurance, and pension funds. To ensure the safety and soundness of the IFSC financial ecosystem, IFSCA has decided to implement a Risk-Based Supervision (RBS) framework. Objectives of RBS: Proactive Risk Identification: To proactively identify and assess risks in the financial ecosystem. Optimal Resource […]