International Financial Services Centres Authority : Global Hub Of Sustainable Finance

International Financial Services Centres Authority : Global Hub Of Sustainable Finance

The Prime Minister, during his speech at the Infinity Forum 2.0, emphasised making International Financial Services Centres Authority (IFSCA) a global hub of Sustainable Finance.

• International Financial Services Centres Authority (IFSCA) has undertaken numerous regulatory initiatives for the development of financial instruments at IFSC to facilitate capital flows towards climate action in India and other developing countries.
• International Financial Services Centres Authority (IFSCA) establishment in April 2020.
• HQ: GIFT City, Gandhinagar in Gujarat.
• IFSCA is a unified authority for the development and regulation of financial products, financial services, and financial institutions in international financial services centres.
• It is a statutory authority established under the International Financial Services Centres Authority Act, 2019 (“IFSCA Act”).
• Objective is to develop and regulate the financial products, financial services, and financial institutions in the International Financial Services Centres (‘IFSC’).