GIFT City

In March 2022, Japanese lender MUFG announced the setting up of an investment fund totaling $300 million for start-ups in India

Sitharaman met Mary Schapiro, vice chairman of the Climate Finance Leadership Initiative (CFLI) on Tuesday (local time) and spoke about her vision of developing GIFT City.

GIFT SEZ is the country's first International Financial Services Centre (IFSC) which is being developed as a global financial services hub

Despite generous tax breaks, opaque and confusing rules have companies struggling to get off the ground

As for stock investing, depository receipts offer better protection while international broker route offers more choices

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

The government is likely to put several non-strategic public sector undertakings on the block next year. More on that in top headlines.

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

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

With this, AMCs will be able to offer global funds, NRIs and others investing into India investment management and advisory services

Street expects sales momentum to continue despite the concerns on Omicron

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

Nirmala Sitharaman also underlined the central government's commitment to make GIFT City a world-class fintech hub as stated in the Union Budget 2021-22

The role of GIFT-IFSC as gateway to global financial services for Indian corporates within India, attracting global financial business to India will be discussed

IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs) in India

Talks are likely to revolve around role of GIFT-IFSC as a gateway to global financial services for Indian companies, attracting global financial business to India, and growth as a fintech global hub

Nifty derivatives contracts are among the most traded on the SGX

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

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.

The International Financial Services Centres Authority (IFSCA) is in the process of setting up an International Arbitration Centre in the GIFT IFSC for speedy resolution of any dispute