GIFT city Current Affairs - 2020

Injeti Srinivas appointed as the 1st Chairman of IFSCA

Retired  1983 batch Indian Administrative Service (IAS) officer from the Odisha Cadre- Injeti Srinivas has been appointed as the 1st Chairman of the International Financial Services Centre Authority (IFSCA) on 6th July 2020. Injeti Srinivas has retired as the Secretary of the Ministry of Corporate Affairs on 31st May 2020. He has been appointed for Read More…

INR-USD Futures and Options Contracts launched by Finance Minister

On May 9, 2020, the Union Finance Minister Smt Nirmala Sitaraman launched the INR-USD Futures and Options contracts in the BSE and NSE platforms. They were launched at the GIFT International Financial Service Centre (IFSC) in Gandhinagar, Gujarat through video conference. Significance The contracts have been launched to increase economic activity and employment in the Read More…

Budget 2020: Financial Sector

The Budget 2020-21 has been framed on the basis that Governance and Finances are the two major hands in achieving the three themes of the budget. The three themes include aspirational India, Economic Development and Caring India The Budget has allocated funds for the following in the efforts of achieving 5 trillion USD economy. Public Read More…

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Government to set-up a Unified Authority for Regulating Entities in IFSC

The Union Cabinet headed by Prime Minister Narendra Modi has approved setting up of a unified authority for regulating all financial services in international financial services centres (IFSCs) in the country. The government has approved a bill to set up a unified regulator. Fact Box The first IFSC in India was set up at GIFT City in Gandhinagar, Gujarat. Promoting the Ease Read More…

Belgium opens honorary consulate in GIFT City

Belgium has become the first country to open an honorary consulate office in Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat. Belgium already has two Consulates-General in Mumbai and Chennai, and an honorary consulate in Kolkata. The consulate was inaugurated by Belgian Secretary of State for Foreign Trade, Pieter De Crem. Hari Sankaran, Vice-Chairman and Read More…