State-owned Bank of India on Monday said it has acquired a 6.125 per cent stake in the recently incorporated CCIL IFSC, listed in GIFT SEZ, reflecting its commitment to the growth of IFSC. The announcement was made by Bank of India’s Executive Director (International Operations) Subrat Kumar in GIFT City while speaking at an event … Read more
In a strategic move to enhance foreign investment in Indian companies, the Government of India has unveiled a groundbreaking set of regulations that allow public companies to list on International Financial Services Centre (IFSC) stock exchanges. This move follows the announcement made in July 2023 and incorporates the recommendations of the Working Group’s report on … Read more
The decision to extend tax benefits that were set to expire in FY24 by a year will provide global investors and eligible companies with the clarity and certainty they need to enhance investment and operational planning, experts said. Eligible startups, sovereign wealth funds, pension funds, and units in the International Financial Services Centre (IFSC) GIFT … Read more
MUMBAI – The government’s decision to allow Indian companies to go for direct listing on foreign exchanges as well as on the International Financial Service Centre (IFSC) has been lauded by market mavens, as they believe this will attract investments and growth capital. While speaking at the launch event of AMC Repo Clearing and a … Read more
Silicon Valley Bank, (SVB), one of the most prominent banks in the US, proudly tweeted on March 7, 2023, that Forbes has awarded/recognised them as “one of the best banks in America”. However, just three days later, on March 10, 2023, SVB suffered a massive collapse, the brevity of which has been compared to the … Read more
GIFT City has come a long way since its commencement in 2015 and significant efforts have been undertaken to lure foreign investors to make investments and set up funds, among others. The Indian government has been highly receptive to the expectations and suggestions of various stakeholders to make the International Financial Services Centre (IFSC) a … Read more
The government on Wednesday permitted qualified jewellers to import certain kinds of gold including certain unwrought forms through India International Bullion Exchange IFSC Ltd. The changes were notified by the Directorate General of Foreign Trade (DGFT) in its amendment in the gold import policy. “In addition to nominated agencies notified by RBI (in case of … Read more
International Finance Service Centre (IFSC) at Gujarat International Finance Tec (Gift) City, a Special Economic Zone (SEZ), was conceptualised to create an offshore jurisdiction in India. The plan was to capture some of the business that was being carried out in Singapore, Mauritius, Dubai, Hongkong, London and similar centres of global finance. A host of … Read more
MUMBAI: An arm of Central Depository Services has been recognized as the bullion depository at the International Financial Services Centre at GIFT City in Gujarat. CDSL IFSC received recognition from the IFSC regulatory authority and can now provide various functions such as holding and transfer of bullion like gold. The company said that the holding … Read more
India’s continuous wide-ranging reforms make the country an attractive destination for foreign investments, Finance Minister Nirmala Sitharaman said on Friday while addressing executives of top US companies. She also mentioned about stimulus packages announced recently; as well as strong, calibrated relief and reforms during COVID leading to sharp decline in new infections with ramping up … Read more