Expert committee on financial services centres submits interim report on development of international retail business
An expert committee on the International Financial Services Centres Authority (IFSCA) submitted its report on international retail business development to the chairperson of the IFSCA.
According to a statement issued by the government, the interim report covers a number of suggestions aimed at swift and efficient development of international retail businesses in the international financial centres (IFSC), and focuses mainly on the banking vertical.
Other key business verticals like insurance, asset management, and
capital markets, would be covered in reports that the committee plans to release subsequently.
“Our focus is to provide a best in class jurisdiction with progressive and light touch regulation to create an attractive location for international financial services. Our vision is to establish GIFT IFSC as a Dominant Gateway for global financial flows into and out of India,