Comments
The Union Cabinet on Wednesday approved a multilateral memorandum of understanding (MoU) signed between the International Financial Services Centres Authority (IFSCA), the International Organisation of Securities Commissions (IOSCO), and the International Association of Insurance Supervisors (IAIS).
“This is one of the biggest multilateral forums, with several regulators on it. It has 124 signatories. India joining this forum will enable all kinds of exchange of information and ease of doing business for those registering themselves in the Gujarat International Finance Tec-City (GIFT City),” Nirmala Sitharaman, Finance Minister said at a briefing post the Cabinet meeting.
GIFT City has a single window for all regulators. Similarly, in many of these agencies (international benchmark setting agencies), cross-border cooperation is one of the biggest aspects. “So we will begin from that,” she said.
The Cabinet has also approved appointment of two members for tribunals and two for administrative services for the Jammu and Kashmir Administrative Tribunal.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.