Question

Who among the following was appointed as the Chairman of the International Financial Services Centres Authority (IFSCA) on July 6, 2020?
1. Nazir Laway
2. Injeti Srinivas
3. K.S. Reddy
4. Anil Kumar Chawla

Answer 1

Correct Answer - Option 2 : Injeti Srinivas

The correct answer is Injeti Srinivas.

• Senior bureaucrat Injeti Srinivas has been appointed as the first chairman of the International Financial Services Centre Authority (IFSCA) for the Gandhinagar-based financial special economic zone or Gujarat International Finance Tech (GIFT) City.

• The main objective of the IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.
• The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020, under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat.
• The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.
• At present, the GIFT IFSC is the maiden international financial services centre in India. Prior to the establishment of IFSCA, the domestic financial regulators, namely, RBI, SEBI, PFRDA and IRDAI regulated the business in IFSC.