The International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India (RBI) have entered into a Memorandum of Understanding (MoU) for collaboration in the field of regulation and supervision of regulated entities in their respective jurisdictions.
Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks
“The Memorandum of Understanding (MoU) facilitates technical cooperation and exchange of information,” the IFSC Authority said in a statement. “The MoU opens up avenues for cooperation between the two regulators, thereby strengthening the safety, stability and soundness of respective financial ecosystems and nurturing environments conducive to optimal business development and economic growth,”
IFSCA is a statutory authority established under the IFSCA Act 2019, headquartered at GIFT City, Gandhinagar. It was established with a mandate to develop and regulate the financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs).
The IFSCA, being a unified regulator responsible for development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre(s) (IFSC) established in India, is, inter-alia, entrusted with the responsibility of regulation and supervision of authorized banks and non-banking financial institutions operating in such IFSCs.
The RBI is the central bank and monetary authority of India carrying on, inter-alia, the regulation and supervision of banks and non-banking financial institutions as well as undertaking other functions and exercising powers in accordance with various statutes.
RBI, Securities and Exchange Board of India (Sebi), Pension Fund Regulatory and Development Authority (PFRDA) and Insurance Regulatory and Development Authority (IRDAI) regulated the business in IFSC.
Find More News Related to Banking
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
Did you know that one district in Uttar Pradesh is famous for its advanced hospitals…
Did you know that there was a time when girls in India were not allowed…
At India AI Impact Summit 2026, the Gujarat government signed a Memorandum of Understanding (MoU)…
Union Health Minister Jagat Prakash Nadda launched the indigenously manufactured Tetanus and Adult Diphtheria (Td)…
Did you know that one small island became famous across the world because of a…