In a momentous declaration, Prime Minister Narendra Modi has unveiled a transformative vision for Gujarat’s financial hub, GIFT City, transcending its established fin-tech prowess to position it as a global epicentre for climate financing.
The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) signed a FinTech Co-operation Agreement to facilitate regulatory collaboration and partnership in FinTech technology.
Subsequently, the Government of India had notified the bullion spot delivery contract and bullion depository receipt (with bullion as underlying) as Financial Products and related services as Financial Services under the International Financial Services Centres Authority (IFSCA) Act, 2019.
