Page 4 - Gift Ifsc

GIFT City draws big players with biz sops; banks, PEs register with IFSCA

Twenty foreign and Indian banks are now part of the IFSC ecosystem

In its first such move, IndianOil lists foreign currency bonds on IFSC

Securities worth SGD 400 million and $1.4 billion, issued in 2012, 2013 and 2019 respectively are now listed," a statement from IFSC said.

Indian Oil lists foreign currency bonds on IFSC exchanges at GIFT

Indian Oil listed has listed its foreign currency bonds on IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT). "We are extremely delighted to be here on the momentous occasion of the listing ceremony of USD 1.4 billion and SGD 400 million on NSE IFSC and India INX exchanges," Indian Oil Director- Finance Sandeep Kumar Gupta was quoted as saying in a statement issued by NSE IFSC on Thursday. According to him, the advent of IFSC at Gift City has provided an opportunity for Indian companies to access offshore funds within India. These bonds were listed on the global securities market platform of India International Exchange (India INX) and debt securities market platform of NSE International Exchange (NSE IFSC). These platforms were launched for listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, among others. The platforms provide an efficient international listing process

GIFT: Will takeover by Gujarat expedite work on Modi's utopian city?

Touted as India's offshore alternative to Singapore and Hong Kong, the IFSC, located in GIFT City, which is about a tenth of the size of Vatican City, offers many incentives to Indian businesses

HDFC Bank lists $1-billion AT-1 bonds on IFSC exchanges at GIFT

HDFC Bank on Thursday listed its USD 1 billion additional tier- I (AT-1) bonds on the IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT)

Deutsche Bank gets nod to set up IFSC banking unit at GIFT City

Deutsche Bank will set up its IFSC banking unit at India's first global financial centre in Gujarat. The bank has received approval from the GIFT SEZ Authority to set up an IFSC banking unit at India's first International Financial Services Centre (IFSC) at GIFT City, Gujarat, a release said on Thursday. The leading German bank with strong European roots has a global network across 59 countries. This will serve as a primer for renowned banks from other geographies to consider GIFT City a viable destination for international financial services, said Tapan Ray, MD & Group CEO, GIFT City. "Progressive banking regulations in GIFT IFSC provide new business opportunities in several areas for foreign banks such as FPI Business, Non-Deliverable Forwards (NDF), Aircraft leasing- financing, and upcoming framework to enable international bullion exchange operations from GIFT IFSC," he said. Deutsche Bank is among the largest international banks in India. It had set up its first branch in th

IFSC eases capital norms for AIFs, exempts need for sponsors' commitment

Also allows such funds to invest in units of domestic MFs as well as those of other FATF-compliant jurisdictions

IFSCA sets up committee to develop avenues for ship financing, leasing

The panel, to be chaired by Vandana Aggarwal, former Sr Economic Advisor, Govt of India will include representatives from GOI, Gujarat Maritime Board and industry experts

Foreign funds at IFSCs may get benign tax treatment under VCC model

K P Krishnan committee report has made multiple suggestions for Indian VCC vehicles to compete with Singapore

Kotak Mahindra Bank issues India's first FPI licence to GIFT AIF

This is the first FPI licence issued to an AIF incorporated in GIFT IFSC by any custodian bank or designated depository participant (DDP) in the country

International Bullion Exchange to come up this year: IFSCA chairman

Bourse will run on a delivery-based model for allocated and unallocated bullion, with underlying security backing the latter

Regulator unveils framework for lawyers, consultants and others at GIFT

Circular covers eligibility and other norms for providing ancillary services in such centres

Sebi's regulatory cap on NRI investments may affect AIFs GIFT move

Many draw their funds from overseas Indians looking to invest in their home country

Govt move to notify GICs as fin services at IFSC to spur MNC investment

Govt move will boost job creation, give a leg-up to social infrastructure in and around Gift City

Launch of more products, retail participation to scale up GIFT IFSC: Ray

A bigger basket of financial service products and retail participation will help in making GIFT IFSC attractive for international players, GIFT City managing director Tapan Ray has said.

RBI push pays off as offshore currency trading starts trickling in onshore

Target is to bring 25% of offshore volume to IFSC by December

Sitharaman launches two exchanges to take on offshore currency market

The launch comes amid the world's most expansive coronavirus lockdown, which has crippled businesses and hurt trading volumes in the country's financial markets.

Rupee futures in Gift City IFSC: Sebi caps position limit at $1 bn

Offshore market or overseas heading in rupee exchange rate market has grown bigger than domestic market, which was worrying the central bank

Govt moves Bill in Lok Sabha to set up unified regulator for IFSCs

As of now, banking, capital markets and insurance sectors in the IFSC are regulated by multiple regulators such as the RBI, Sebi, Irdai

StanChart to be first foreign bank to launch ops at GIFT IFSC; may open branch this yr

The GIFT City Thursday said US-based Standard Chartered will be the first foreign bank to launch operations at International Financial Services Centre (IFSC). Standard Chartered has received in-principle regulatory approvals to set up its IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City), it said in a release. The US-based lender is expected to start operations at IFSC by the end of this year, a GIFT City spokesperson said. The government had envisaged GIFT IFSC as a hub to bring offshore financial transactions, and with the presence of Standard Chartered, the IFSC ecosystem of India will become more formidable now, said Tapan Ray, MD & Group CEO, GIFT City. "In addition, the announcements made in the recent Union Budget have provided the much needed impetus to take GIFT on a fast track mode. This would definitely incentivise more international financial intuitions to set up their base in GIFT City," he said. The recent Budget has laid a special ...