Money & Banking

Injeti Srinivas appointed as Chairman of International Financial Services Centres Authority

Our Bureau New Delhi | Updated on July 06, 2020 Published on July 06, 2020

The Appointments Committee of the Cabinet has approved the appointment of Injeti Srinivas, a retired IAS officer, as Chairman of International Financial Services Centres Authority (IFSCA).

He has been appointed as Chairman of IFSCA for a period of three years. Srinivas was Secretary, Ministry of Corporate Affairs (MCA) before he superannuated on May 31.

Gandhinagar, Gujarat-based IFSCA is a unified authority to regulate all financial services in International Financial Services Centres (IFSCs) in the country.

The main function of the IFSCA is to regulate all financial products such as securities, deposits or contracts of insurance, financial services and financial institutions which have been previously approved by any appropriate regulator in an IFSC.

Besides the Chairman, IFSCA has a member each nominated from RBI, IRDAI, SEBI and PFRDA. There are also two members from the Central Government and full-time or part time members in the Authority.

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Published on July 06, 2020
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