The International Financial Services Centres Authority Act, 2019
The International Financial Services Centres Authority Act 2019 is a significant legislative framework enacted by the Indian government. It aimed to establish an authority to develop and regulate the financial services market in the International Financial Services Centres (IFSCs) in India.
The Act provides for the establishment of a unified regulatory framework within IFSCs to promote ease of doing business, facilitate cross-border transactions, attract foreign investment, and foster innovation in financial services.
The Act is designed to position the IFSC in India as a global financial hub and become a leading player in international finance and commerce.
