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Unified regulator for GIFT City, relaxations to woo AIFs on cards

A govt source said SEZ rules are designed mainly for manufacturing and so the first financial SEZ in India at GIFT IFSC is facing regulatory issues

GIFT City
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GIFT City

Rajesh Bhayani Mumbai
The Centre is working on measures to attract more players to GIFT City (Gujarat International Finance Tec-City) in Gujarat. A unified regulator for all financial market investments in GIFT City and relaxations for alternative investment funds are among measures that could be announced during the budget session.

Sources said the government is planning to announce changes in procedures and laws during the budget session of parliament. The proposal for a unified regulator (only for GIFT city) was made by the Reserve Bank of India two years ago. The reason was that different regulators have different views on policies

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First Published: Jan 30 2019 | 11:34 AM IST

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