SEARCHED FOR:FINANCIAL CENTRE
With Chinese help, Sri Lanka is readying a global financial hub to rival India's GIFT City
While the GIFT City IFSC has a head start over CIFC, Sri Lanka can quickly ramp up construction with Chinese help. It has set an eight-year target. If their strategic partnership also nudges some big Chinese firms to set up shop in the CIFC, the race would be on. After all, cash rich Chinese firms have been investing heavily in assets across Asia.
Ficci proposes financial aid, support centres for rehabilitation of migrant workers
The Ficci Report on 'Rehabilitation of Migrant Workers in...
Seek help from Delhi government to repay loan: Centre to DMRC
The Centre has asked the Delhi Metro Rail Corporation to approach the city gove...
Sebi revises eligibility, shareholding limit for clearing corp at IFSC
The decision, aimed at streamlining the operations of IFSC, has been taken after consultation with stakeholders, the Securities and Exchange Board of India (Sebi) said in a circular.
Govt amends IRDAI rules to permit insurance intermediaries to operate in all SEZs
Where the IRDAI’s Regulation of Insurance Business in Special Economic Zone Rules, 2015, did not mention intermediaries, the authority’s 2019 guidelines for intermediaries specified operations in International Financial Services Centre (IFSC) and not all SEZs.
Oracle launches second data centre in India
The centre is expected to meet increased demand for secure cloud services from existing and new clients, Shailender Kumar, regional managing director, Oracle India told.
Govt notifies International Financial Services Centres Authority
With this, the government has established a unified authority to regulate all financial services in International Financial Services Centres (IFSCs) in the country.
India among Switzerland's top-3 partners for info exchange on tax matters: Global Forum
India figures among the top-three countries getting detailed information from Switzerland about bank accounts and beneficiary ownership of entities established by their residents in the Alpine nation, according to the latest study by OECD's Global Forum on transparency and exchange of information for tax purposes.
Centre to unveil another fiscal package by the end of second quarter : S Gurumurthy
Gurumurthy said that another fiscal package could be unveiled towards the end of the second quarter.
GIFT SEZ provides approval to 28 entities
The Development Commissioner of GIFT SEZ along with GIFT SEZ authorities met up with all the members of unit approval committee via teleconference. All the application documents and the details were submitted online by the units, with the entire agenda prepared and circulated online to all the committee members.
Standard Chartered Bank starts operations at IFSC GIFT City
A slew of Indian lenders have operations at the IFSC, which helps them operate like a foreign unit, even though located within the geographical limits of India, and gives access to cheaper funds and also provides products for the global needs of Indian corporates.
Centre eyes decriminalising cheque bounce, lesser financial offences; seeks public opinion
The government is looking to reclassify several offences under financial sector laws, including the bouncing of cheques, as civil offences r...
COVID-19: Bar body urges governments to provide financial assistance to lawyers
"There is no permanent or fixed income for lawyers. The benefits like pension, PF, or ESI are out of bounds. Free rations and such other benefits will not reach 99 per cent of the lawyers as they are above BPL line," the resolution said.
Financial sector will need to be recapitalised, says Uday Kotak
"The banking sector's loan book is about Rs 100 lakh crore and the total capital of all banks in India is about Rs 11 to 12 lakh crore. So, if 4-5 per cent of loans turn bad due to COVID, the capital position of the banking sector will get impacted by about 40 per cent," Kotak said in the company's latest Annual Report.
PIL against illegal occupation of government accommodation: HC seeks Centre's stand
The order came after the petitioner society filed an affidavit indicating its bonafide and stating that it has no personal grudge against the retired public servant as was directed by the court on the last date of hearing on July 8.