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CS Professional · IFSCA - Regulations, Listing and Compliances · IFSCA Ecosystem and Regulatory Framework

Mr. Rao, a former economist, is considered for appointment as a Member of the IFSCA under the Act. Which qualification matches the statutory requirement for Members?

Members must be persons of ability, integrity and standing who have shown capacity in financial sector matters or have special knowledge or experience of law, finance, economics, accountancy, administration or another useful discipline. No specific profession, office or state residence is required.

  1. AHe must have been a serving RBI Deputy Governor
  2. BHe must be a chartered accountant in practice
  3. CHe must be a person of ability, integrity and standing with capacity in financial sector matters or special knowledge or experience of subjects such as law, finance, economics, accountancy or administrationCorrect
  4. DHe must be a resident of Gujarat with ten years of banking experience

Explanation

Section 5(3) requires persons of ability, integrity and standing who have shown capacity in financial sector matters or have special knowledge or experience of law, finance, economics, accountancy, administration or any other useful discipline. It prescribes no single profession or residence.

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