Skip to content

CS Executive · Capital Market and Securities Laws · International Financial Services Centres Authority (IFSCA)

Which of the following is a permissible application of the International Financial Services Centres Authority Fund under the IFSCA Act, 2019?

The IFSCA Fund is applied to meet salaries, allowances and other remuneration of Members, officers and employees, and other expenses incurred in discharging the Authority's functions. It is not meant for compensating investors or funding Government deficits.

  1. APaying salaries, allowances and remuneration of Members, officers and employees of the AuthorityCorrect
  2. BCompensating investors who lose money in IFSC transactions
  3. CFunding Central Government fiscal deficit
  4. DPaying penalties imposed on IFSC entities

Explanation

The Fund is applied to salaries, allowances and remuneration of Members, officers and employees, and other expenses incurred in discharging the Authority's functions. Investor compensation, deficit funding or penalty payment are not stated purposes. Penalties realised go to the Consolidated Fund of India, not this Fund.

Did you get it right without looking?

One question tells you little. A timed set on International Financial Services Centres Authority (IFSCA) shows your real accuracy, how long you take and where you lose marks.

Practise International Financial Services Centres Authority (IFSCA)Free diagnostic mock

More International Financial Services Centres Authority (IFSCA) questions