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ARTICLE · 25 SEPTEMBER 2024

GIFT City Newsletter | July 2024

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The Gujarat International Finance Tec-City ("GIFT City") is being developed as a global financial and IT Services hub, a first of its kind in India.

IndiaFinance and Banking
Manoj Panzade
Manoj Panzade
Samantha Fernandes
Samantha Fernandes
Namita Das
Namita Das
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The Gujarat International Finance Tec-City ("GIFT City") is being developed as a global financial and IT Services hub, a first of its kind in India. GIFT City is home to the GIFT International Financial Services Centre ("GIFT IFSC"), which serves as both a financial centre and a special economic zone to provide a high level of infrastructure and services for financial institutions and companies operating in banking, insurance, capital markets and asset management.

Further, the International Financial Services Centres Authority ("IFSCA") was established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat. It acts as the single regulatory body for financial institutions, services, and products within the International Financial Service Centres (IFSCs) in India. This consolidates the powers previously held by four separate regulators: Reserve Bank of India ("RBI"),

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