HSBC was the first global bank to obtain a licence from the IFSCA, set up in April 2020 as a unified authority for GIFT City financial services.
January 29, 2021The IFSCA was established in April 2020 as a unified authority to regulate all financial services in Gift City, India’s international financial services centre.
January 6, 2021The regulations provide guidelines on to functions, general obligations, ownership and governance structure for a bullion exchange and clearing corporation in Gift City.
November 2, 2020All entities operating in the capital market, banking, insurance and pension sectors, as well as individuals and startups from India and FATF-compliant jurisdictions, are eligible.
October 23, 2020Parliament passed a bill providing legal basis for bilateral netting of OTC derivatives contracts which are not centrally cleared.
September 25, 2020A new panel has been appointed to provide recommendations on attracting international retail business to Gift City, India’s international financial services centre.
August 11, 2020The new authority can now appoint members and employees, set up funds and apply tax exemptions, but other regulatory and supervisory powers have not yet taken effect.
April 29, 2020