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CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Kaveri Analytics Pvt Ltd wants to set up a unit in GIFT IFSC to provide technology-driven financial services to customers. Which statement best describes the regulator and the way the unit is authorised?

IFSCA is the unified regulator for financial products, services and institutions in IFSCs under the IFSCA Act, 2019. A fintech unit in GIFT IFSC is therefore regulated and permitted by IFSCA, not by SEBI, RBI or the State government alone.

  1. AIFSCA, as the unified regulator of IFSC, regulates such financial services and products and permits units through its frameworkCorrect
  2. BSEBI alone authorises every fintech unit in IFSC
  3. CRBI alone authorises every fintech unit in IFSC
  4. DState government of Gujarat grants the financial services licence

Explanation

IFSCA was established under the IFSCA Act, 2019 as a unified authority for financial products, services and institutions in IFSCs. It therefore, and not SEBI, RBI or the State government alone, is the regulator for fintech units and the activities they are permitted to carry out in IFSC.

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