Page 4 - Ifsc

Overture from foreign varsities in response to education policy push

While foreign universities are still non-committal on setting up campuses here, more delegations of higher education experts are expected to visit India to explore possibilities accorded by the NEP

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

DBS Bank India migrates to new IFSC and MICR codes of erstwhile LVB

Following the amalgamation with DBIL, the IFSC & MICR codes of all branches of erstwhile LVB have changed. While the new codes have been active since October 25, 2021, the older IFSC codes will remain valid until February 28, 2022, to ensure customers' convenience and ease of transition. Customers will be required to use the new DBS IFSC code from March 1, 2022, onwards to receive funds through NEFT/RTGS/IMPS.The change was communicated to customers through physical letters, emails, and SMS as well as at the branches. They were requested to share the new IFSC code with business partners, associates and vendors to update their records, recurring payments and receivables well in time. All existing cheques issued to the third party will have to be replaced with new cheques before February 28, 2022. Any cheque with old MICR codes presented after the aforementioned date will not be honoured.New cheque books (with new MICR code) have been available since 1st November 2021. Customers ..

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

Four platforms get IFSCA licence for factoring business at Gift City

These in-principle licences were issued by the IFSCA last Friday to start working through sandbox facilities before formal business

IFSCA constitutes panel for development of sustainable finance hub

The International Financial Services Centres Authority (IFSCA) on Thursday set up an expert panel headed by former Enviornment and Forest Secretary C K Mishra to suggest a framework to develop a world-class sustainable finance hub at IFSC. India aspires to be a frontrunner in climate action, which is evident in its commitment towards its intended Nationally Determined Contributions under Paris Agreement, IFSCA said in a statement. "Raising financial resources for climate change adaptation and mitigation actions of this scale needs active participation of international investors. IFSCA envisions GIFT- IFSC as a global hub for sustainable finance thereby acting as a gateway for channelizing foreign capital into India," it said. In its endeavour to develop the required ecosystem, IFSCA has constituted a 10-member Expert Committee to recommend approach towards development of Sustainable Finance Hub and provide a road map for the same. As per the terms of reference, the panel would ...

Axis Bank lists $600-mn AT-1 sustainable bonds on IFSC exchanges

Axis Bank has listed its $600 million Additional Tier 1 (AT1) sustainable bonds on IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT).

IFSCA issues norms for setting up, operating ITFS to provide trade finance

The International Financial Services Centres Authority (IFSCA) on Monday released a framework for setting up and operating an international trade finance services platform

Street signs: Zomato GMP at 15-18%, beeline of AIFs at IFSC, and more

Shares of thermal power producers are likely to benefit from the rise in power demand, say analysts

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

Treasury arm of finance firms can invest in global assets through IFSC

The treasury can be used to raise credit facilities and equity for group entities from the global markets

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

Sebi issues guidelines for off-mkt transfer of securities by FPIs to IFSC

Markets regulator Sebi on Tuesday came out with guidelines for relocation of foreign funds to the International Financial Services Centre (IFSC)

Sponsor investments in IFSC AIFs to come under the automatic route

RBI relaxation to allay round tripping concerns associated with sponsor commitment and shorten fund set-up time in IFSC

How the PSU bank merger that comes into force on April 1 will impact you

PSU Bank merger: You'll have to take stock of your cheque books, passbooks, IFCS, ECS mandates and other things once you start dealing with the new entity

Finance Bill amendment eases Mauritius funds' path for India shift

Experts reckon up to 10 per cent of such funds could shift to the IFSC

India will not 'shut off' all cryptocurrency, wants blockchain: Sitharaman

Bitcoin, the world's biggest and earlier cryptocurrency, has crossed a record high of $60,000.

Four entities show interest to set up leasing shops in GIFT city

Besides, SpiceJet plans to lease seaplanes from India; Hindustan Aeronautics will explore channelising lease agreement--being discussed with Alliance Air for two Dornier aircraft--through IFSC

IFSCA wants GIFT City bullion exchange to open for domestic investors

In talks with RBI for being included in LRS; may ask FinMin to intervene

CDSL IFSC branch in Gujarat gets recognition as foreign depository

The objective of the branch is to make IFSC the ''go-to'' location for global investors and be the preferred choice amongst the financial markets