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With reference to the International Trade Finance Services Platform (‘ITFS’), consider the following statements:
1. It has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).
2. It will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the International Trade Finance Services Platform (&...
IFSCA has issued a framework for Setting up and operating International Trade Finance Services Platform (‘ITFS’).
  • The International Financial Services Centres Authority (IFSCA) has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).
  • Towards this end, IFSCA has issued a framework for Setting up and operating International Trade Finance Services Platform (‘ITFS’) for providing Trade Finance Services at International Financial Services Centres (‘IFSCs’).
  • The framework will enable Exporters and Importers to avail various types of trade finance facilities at competitive terms, for their international trade transactions through a dedicated electronic platform viz, ITFS.
  • This will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.
  • Hence both statements are correct.
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With reference to the International Trade Finance Services Platform (‘ITFS’), consider the following statements:1. It has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).2. It will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the International Trade Finance Services Platform (‘ITFS’), consider the following statements:1. It has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).2. It will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the International Trade Finance Services Platform (‘ITFS’), consider the following statements:1. It has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).2. It will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the International Trade Finance Services Platform (‘ITFS’), consider the following statements:1. It has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).2. It will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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