NEW DELHI: The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services and financial institutions in the International Financial Service Centres (IFSCs) in India.
The Fund Industry has been playing an increasingly important role in intermediating between seekers of capital and investors. IFSC has been actively engaging with stakeholders to enhance the Global reach of GIFT-IFSC. The regulatory approach has been to benchmark with Global Standards and adopt a facilitative framework to provide ease of operations for seeker as well as provider of capital.
IFSCA, in its endeavour to develop a comprehensive and consistent regulatory framework based on global best practices with a special focus on ease of doing business, has constituted an Expert Committee on Investment Funds to recommend to IFSCA on the road map for the funds industry in the IFSCs.
The Committee has been constituted under the Chairmanship of Mr. Nilesh Shah, MD, Kotak Mahindra Asset Management Co. Ltd. The Committee comprises of leaders from the entire Fund Management ecosystem including from areas such as technology, distribution, legal, compliance, and operations.