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With reference to the International Financial Services Centres Authority, consider the following statements:
1. It is a statutory body of India.
2. It is headquartered at GIFT City, Gandhinagar in Gujarat.
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?
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Verified Answer
With reference to the International Financial Services Centres Authori...
About International Financial Services Centres Authority:
- It was established in April 2020 under the International Financial Services Centres Authority Act, 2019. Hence statement 1 is correct.
- It is headquartered at GIFT City, Gandhinagar in Gujarat. Hence, statement 2 is correct.
- The Authority is mandated to regulate all such financial services, financial products and Financial Institutions in an IFSC.
- It may also recommend to the Central Government other financial products, financial services and financial institutions which may be permitted in the IFSCs.
Most Upvoted Answer
With reference to the International Financial Services Centres Authori...
International Financial Services Centres Authority (IFSCA)
The International Financial Services Centres Authority (IFSCA) is a statutory body established in India to regulate financial services in International Financial Services Centres (IFSCs). The IFSCA was set up under the International Financial Services Centres Authority Act, 2019.
Statement 1: It is a statutory body of India.
Correct
The first statement is correct. The IFSCA is indeed a statutory body of India. It was established to develop and regulate the financial services market in the IFSCs. The IFSCA Act, 2019 provides the legal framework for the authority to exercise its powers and functions.
Statement 2: It is headquartered at GIFT City, Gandhinagar in Gujarat.
Correct
The second statement is also correct. The IFSCA is headquartered at GIFT City, Gandhinagar in Gujarat. GIFT City (Gujarat International Finance Tec-City) is India's first operational smart city and IFSC. It has been developed as a financial hub to attract global financial services firms, banks, and other institutions. The presence of the IFSCA in GIFT City further strengthens its position as a prominent financial center in India.
Conclusion
Both the given statements are correct. The International Financial Services Centres Authority (IFSCA) is a statutory body of India, established to regulate financial services in International Financial Services Centres (IFSCs). It is headquartered at GIFT City, Gandhinagar in Gujarat.
The International Financial Services Centres Authority (IFSCA) is a statutory body established in India to regulate financial services in International Financial Services Centres (IFSCs). The IFSCA was set up under the International Financial Services Centres Authority Act, 2019.
Statement 1: It is a statutory body of India.
Correct
The first statement is correct. The IFSCA is indeed a statutory body of India. It was established to develop and regulate the financial services market in the IFSCs. The IFSCA Act, 2019 provides the legal framework for the authority to exercise its powers and functions.
Statement 2: It is headquartered at GIFT City, Gandhinagar in Gujarat.
Correct
The second statement is also correct. The IFSCA is headquartered at GIFT City, Gandhinagar in Gujarat. GIFT City (Gujarat International Finance Tec-City) is India's first operational smart city and IFSC. It has been developed as a financial hub to attract global financial services firms, banks, and other institutions. The presence of the IFSCA in GIFT City further strengthens its position as a prominent financial center in India.
Conclusion
Both the given statements are correct. The International Financial Services Centres Authority (IFSCA) is a statutory body of India, established to regulate financial services in International Financial Services Centres (IFSCs). It is headquartered at GIFT City, Gandhinagar in Gujarat.
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With reference to the International Financial Services Centres Authority, consider the following statements:1. It is a statutory body of India.2. It is headquartered at GIFT City, Gandhinagar in Gujarat.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 Financial Services Centres Authority, consider the following statements:1. It is a statutory body of India.2. It is headquartered at GIFT City, Gandhinagar in Gujarat.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 Financial Services Centres Authority, consider the following statements:1. It is a statutory body of India.2. It is headquartered at GIFT City, Gandhinagar in Gujarat.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 Financial Services Centres Authority, consider the following statements:1. It is a statutory body of India.2. It is headquartered at GIFT City, Gandhinagar in Gujarat.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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