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Among the important National Current Affairs, On 11th April 2015,
India’s first International Financial Services Centre (IFSC) became
operativein Gujrat at GIFT City in Gandhinagar. After the impartment of
the rules and regulations for this global financial hub by Union Finance
Minister Arun Jaitley at a special ceremony held at Mahatma Mandir in
Gandhinagar, it was made operational.
Attributes of International Financial Services Centre (IFSC)
It will uplift the economy of Gujarat as well as of the country.
The motive of the regulations is to create a resonant IFSC on the lines of those in Singapore and Dubai.
It
enables companies incorporated outside India to raise money in foreign
currencies by issuance and listing of their equity on stock exchanges
within the IFSC
NRIs and institutional and individual investors from India and abroad would be allowed to trade
In which city India’s first IFSC became operative - GIFT City, Gandhinagar in Gujarat
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