Gauhati HC: DRT Has to Dispose of Application under Section 17 of SARFAESI Act as per RDB Act  ||  Kerala HC: Showing or Waving Black Flag to a Person Cannot Amount to Defamation  ||  Del. HC: Merit Based Review of Arb. Award Involving Reappraisal of Factual Findings is Impermissible  ||  Del. HC: It is the Product and Not the Technology Used that Determines HSN Classification  ||  P&H HC: Provis. of Punjab Recruitment of Ex-Servicemen (First Amendment) Rules are Unconstitutional  ||  Cal HC: High Time that Irretrievable Breakdown of Marriage be Read as Grounds of Desertion & Cruelty  ||  Supreme Court: Third Party Can File SLP Against Quashing Of Criminal Proceedings  ||  SC: Absolute Ownership in Property as Per HSA Can’t be Claimed by Woman with Limited Interest  ||  SC: Can’t Forego Fundamental Requirements of Election of Society in Absence of Specific Provisions  ||  SC: Special Efforts Should be Made to Identify Women Prisoners Eligible for Release u/s 479 of BNSS    

IFSCA executes MoU with the Reserve Bank of India - (16 Nov 2022)

Banking

The International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India (RBI) have entered into a Memorandum of Understanding (MoU) for collaboration in the field of regulation and supervision of regulated entities in their respective jurisdictions. The MoU facilitates technical cooperation and exchange of information. The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019.

The IFSCA, being a unified regulator responsible for development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre(s) (IFSC) established in India, is entrusted with the responsibility of regulation and supervision of authorized banks and non-banking financial institutions operating in such IFSCs. The main objective of the IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.

The RBI is the central bank and monetary authority of India carrying on, the regulation and supervision of banks and non-banking financial institutions as well as undertaking other functions and exercising powers in accordance with various statutes. The MoU opens up avenues for cooperation between the two regulators, thereby strengthening the safety, stability and soundness of respective financial ecosystems and nurturing environments conducive to optimal business development and economic growth.

Tags : IFSCA   MOU   RBI  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved