IFSCA: The government has chosen K Rajaraman, the secretary of telecom, to lead the International Financial Services Centres Authority (IFSCA). Injeti Srinivas, who has held the position of initial chairperson since 2020, will be replaced by Rajaraman. A gazette announcement states that Rajaraman’s appointment is in effect for three years beginning on the day he accepts responsibility, or until he turns 65, or until further instructions are made, whichever comes first.
Read more: Government of India Act 1909
About the International Financial Services Centres Authority (IFSCA)
The International Financial Services Centres Authority (IFSCA) was formed in April 2020 through the enactment of the International Financial Services Centres Authority Act, 2019. Its headquarters is situated in GIFT City, Gandhinagar. The IFSCA serves as a unified regulatory body responsible for the development and supervision of financial products, services, and institutions within the International Financial Services Centre (IFSC) in India. Currently, GIFT IFSC is India’s first international financial services center. Before the establishment of IFSCA, domestic financial regulators such as RBI, SEBI, PFRDA, and IRDAI regulated activities within the IFSC.
