International Financial Services Centres Authority (FinTech Incentive) Scheme, 2022
On 2nd February 2022, the International Financial Services Centres Authority (IFSCA) issued a notification titled “International Financial Services Centres Authority (FinTech Incentive) Scheme, 2022”.
The IFSCA FinTech Incentive Scheme 2022, aimed to build an internationally recognised FinTech Hub at the International Financial Services Centre (IFSC) in India. The program promotes innovation in financial services and products, aids foreign FinTechs in entering the Indian market, and helps domestic FinTechs grow globally.
Benefits include supporting sustainable finance solutions, providing funding for businesses at various stages of development, and helping domestic FinTechs list on reputable stock exchanges. Grant applications are open to qualified businesses, and they may be closely watched to guarantee the right use. The objectives of this scheme are to increase global competitiveness in the financial technology industry and cultivate a robust FinTech ecosystem.
