Page 2 - Gift City Ifsc

We've had no NPAs, plan to keep it that way: Amitabh Banerjee, CMD, IRFC

In a Q&A, Banerjee says the company is unlikely to change its model of leasing to Indian Railways, but is open to financing private projects that have forward or backward linkages with railways

Budget sops may spur up to 10% Mauritius funds to relocate to IFSC

Experts say while global funds may want to consider shifting their India portfolios to IFSC, the move would result in splitting the fund into two, which may not be acceptable to investors

ICICI Lombard gets approval to open IFSC unit in Gujarat's Gift city

Private non-life firm ICICI Lombard on Friday said it has received approval from international financial services centre (IFSC) to open an offshore insurance office in Gift City

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

Quit from here, then join, Sebi tells 350 officers seeking IFSCA deputation

Rejects all 350 applications; Newly formed unified authority International Financial Services Centres Authority (IFSCA) regulates govt's pet project GIFT city institutions

NSE and SGX end arbitration; will trade Nifty products at GIFT City

This will bring together international and Gujarat International Finance Tec-City (GIFT City) participants to create a bigger liquidity pool for Nifty products in GIFT City

Expert panel suggests making GIFT city a gateway for global investors

Committee says IFSC should aim at providing Indian diaspora and individuals from Asia and Africa with full range of financial services, serve residents availing liberalised remittance scheme

Sebi revises eligibility, shareholding limit for clearing corp at IFSC

The decision, aimed at streamlining the operations of IFSC, has been taken after consultation with stakeholders, the Securities and Exchange Board of India (Sebi) said in a circular

Can GIFT City overcome the barrier of unpredictable policymaking?

The Gujarat government's international financial services centre has the opportunity to become a global hub, but only if regulation and procedures are streamlined quickly

In a first, 11 entities get approval for units at GIFT SEZ virtually

Teleconference used in approval process; the 11 entities carry potential to create 500 jobs

Sebi amends the guidelines for intermediaries operating at GIFT City

Besides, the watchdog has changed the guidelines for reporting of financial statements by issuers listing their debt securities at IFSC.

Govt allows companies to list global depository receipts on Gujarat IFSC

A depository receipt is a foreign currency denominated instrument, listed on an international exchange, issued by a foreign depository to a domestic custodian and includes GDRs

Businesses pitch for gold import as Budget proposes bullion exchange

The exchange at the international financial services centre (IFSC) will be an additional option for trade for global market participants, says Budget 2020.

Budget: International bullion exchange to be set up at IFSC in GIFT City

IFSC has the potential to become a centre of international finance and high end data processing, the Finance Minister said during her speech

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 ...

Cash-strapped IL&FS eyes Rs 480 crore from sale of two towers at Gift City

In a public notice Monday, IL&FS said it has put its two towers - Gift One and Gift Two - on the block and has invited expressions of interest from investors

Relief for GIFT City as Modi's election win allays relocation fears

A fourth of India-focused Singapore and Mauritius funds may potentially migrate to IFSC over time

Cabinet okays single regulator for international financial services centres

Need for a separate unified regulator arose after the existing regulators expressed concerns that transactions in GIFT City can have an impact on the domestic markets

GIFT City's IFSC bags 10th place in Global Financial Centres Index

Including GIFT City's IFSC, six of the top ten emerging centres are in Asia

Broking, insurance and banking transactions cross $4 bn at GIFT City's IFSC

With 13 more being approved by the special economic zone (SEZ) development commissioner, the number of units within the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) has risen to 103.Units within the finance SEZ of around 13 broking, IT, reinsurance and banking firms such as HDFC Bank Limited, Karvy Broking Ltd, Pabhudas Lilladher IFSC Pvt. Ltd, JM Global Wealth IFSC Pvt. Ltd, Softpulse Technology, Airan Global Pvt. Ltd, Lucent Innovation, and J.B. Boda Reinsurance Brokers Pvt. Ltd, among others have been approved. According to Ajay Pandey, MD & Group CEO, GIFT City, the IFSC at GIFT City now has 87 capital market units, 10 banks and six insurance companies. Of these, while banks have crossed transactions worth $3 billion through international banking units (IBUs) within the IFSC, insurance companies have touched $1 billion worth of sum insured while stock exchanges have seen single day trading of around $100 million."Two ...