Page 3 - Gift City Ifsc

IFSCA forms committee on transition finance to formulate framework

The committee has been tasked to assess the trends in the segment and identify the best practices for transition finance in India by 2047

Two Japanese banks set to start operations in GIFT City: IFSCA chief

Two more Japanese banks are set to join 10 foreign and 16 local banks in the tax-free GIFT City, where more than 550 businesses with assets worth USD 47 billion have registered and begun operations, an official said.. This marks a significant expansion of the GIFT City's financial sector, which is expected to play a key role in India's economic growth, International Financial Services Centres Authority (IFSCA) chairman K Rajaraman said here. We also want Indian origin funds and businesses that are located in tax-free jurisdictions to return home and be part of the growing GIFT City hub, said Rajaraman, giving this update on the Ahmedabad-based city free trade zone, where ease of doing business procedures, processes and laws have become a benchmark for international standards. IFSCA is the regulatory body for the Indian special economic zones such as the GIFT City. Rajaraman said his recent delegation to Tokyo has resulted in two Japanese banks registering in the GIFT City, and more

Direct listings of firms at GIFT City by end of this year: IFSCA Chairman

Rajaraman says norms to be notified soon; Regulator also mulling on a new payments system regulation

NSE-BSE IFSC units may file merger plea before NCLT by September-end

Insiders suggest the possibility of an all-share amalgamation of arch rivals

IFSCA looks to clear decks for startups' direct listing at GIFT City

Mulls steps to ease setting up holdcos, Spacs

Total banking transactions at GIFT IFSC reach $508 bn by July 2023

Total banking transactions at GIFT International Financial Services Centre (IFSC) here reached USD 508 billion till July 2023, an official said on Tuesday. GIFT IFSC Executive Director Dipesh Shah said that till July 2023, the total banking asset size at GIFT IFSC stood at USD 41.20 billion, and cumulative derivative transactions booked by banks were worth USD 632 billion. There were a total of over 545 IFSCA registered entities at GIFT IFSC till July 2023, including 25 aircraft and shipping entities, and monthly turnover on the IFSC international stock exchange in July 2023 was USD 60.33 billion. Total commitments made to alternative investment funds till July 2023 was at USD 17.8 billion, he said. Shah said that as of date, over 5,000 employees worked at GIFT IFSC zone, and a proposal was received from a single company interested to employ 5,000 people in its GIFT IFSC unit. "These are the types of proposals we are discussing in terms of financial centre growth in coming years,"

Total assets of IFSC banking units surge over 30% to $38.28 billion

In its annual report for 2022-23, IFSCA says volumes of business in IBUs has doubled to $258.59 billion

Alchemy India Long Term Fund relocates from Mauritius to Gift City IFSC

Industry players said more such funds could move to Gift City as the tax treatment is now at par with other global jurisdiction

IFSC relaxation may boost trade in foreign stocks at the GIFT City

RBI removed requirement of repatriating funds lying idle in FCA accounts

Reserve Bank of India, IFSCA likely to frame fresh norms for GIFT City

The finance minister has announced ways to make regulations and clearances for GIFT City streamlined

Variable capital firms to boost India's fund management space, says Sahoo

Such entities have a variable capital base as they issues and redeems shares on an on-going basis. With every issue or redemption, the capital base of the VCC changes

India now in league of nations that shape global financial trends: PM Modi

Modi launches India's first international bullion exchange in Gujarat

PM Modi to launch India's first international bullion exchange in Gujarat

Prime Minister Narendra Modi will visit India's first International Financial Services Centre (IFSC) at the Gujarat International Finance Tec-City (GIFT City) near Gandhinagar on Friday

NSE IFSC-SGX Connect launch postponed due to flood situation in Gujarat

The launch, which was to bring SGX Nifty trading at Gift City IFSC, was due to get operationalised on Friday by Prime Minister Narendra Modi

Gift City gold imports: Qualified jewellers can make advance payment

Banks have been asked to carry out all the due diligence and ensure remittances sent are only for the bona fide import transactions through exchange/s authorised by IFSCA

SBI raises $500 million through three-year syndicated loan at fine pricing

This is the first offshore Secured Overnight Financing Rate (SOFR)-linked loan by SBI through its IFSC Gift City Branch

TCS to power NSE IFSC-SGX Connect at Gift City, phase-1 goes live in April

Once the Gift Connect gets operational, SGX investors dealing in Nifty contracts will have to carry out their investment at NSE IFSC

Investing in global stocks through IFSC: Here's what investors should know

A certain number of NSE IFSC depository receipts are required to make up one underlying share

Investments by Indians in foreign assets up 63.8% during past 12 months

Numbers have been rising fast since the pandemic; total amount of money sent abroad for foreign investments was $673.8 million

How hiccups in P-note GIFT plan could impact wide-scale adoption

Use of the instrument has been falling over time