Sebi takes stock of securities mkt functioning at GIFT IFSC

Sebi Chairman Ajay Tyagi today took stock of functioning of securities markets at GIFT City International Financial Services Centre.
Besides, he promised full support for GIFT City (Gujarat International Finance Tec) IFSC.
GIFT IFSC Chairman Sudhir Mankad and officials of stock exchanges and clearing corporations gave an update to Tyagi about the steps taken for more effective functioning and development of the securities market at the financial centre.
Tyagi reviewed "the progress made in the last six months towards effective functioning of securities markets in GIFT IFSC".
Further, he discussed the progress of the NSE IFSC, its growth plans and steps taken by it to attract market participants, the NSE said in a statement.

GIFT IFSC (International Financial Services Centre) has been set up to enable Indian entities to compete on an equal footing with offshore financial centres and provide facilities and regulations comparable to other leading international financial centres in the world. GIFT City is the first IFSC in the country.