Page 3 - Gift City Ifsc

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

Budget 2022: Int'l Arbitration centre at GIFT City for dispute resolution

Market participants say move would ensure fast disposal of cases and will attract investors and enhance ease of doing business

Bulking up IFSC: A wide-ranging expansion of its remit expected in Budget

FY23 will be aimed at making IFSC the centre to use rupee as a freely convertible currency

GIFT city regulator seeks comments on draft insurance web aggregator rules

The public and stakeholders comments on the draft regulations have to be submitted by December 20