International Financial Services Centres Authority, Everything Here

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Everything about IFSCA

International Financial Services Centres Authority (IFSCA) is a statutory body/ authority that was established by the Government of India. It was established on 27th April 2020 under the International Financial Services Centres Authority Act, 2019. IFSCA is responsible for developing and regulating financial products, financial services and financial institutions. Check out some of the generic data/overview on IFSCA in the table below:

Organization Name	IFSCA
IFSCA Full Form	International Financial Services Centres Authority
IFSCA Chairman	Injeti Srinivas
IFSCA Headquarter	GIFT City, Gandhinagar in Gujarat
IFSCA Established on	27th April 2020
IFSCA Official Website	https://www.ifsca.gov.in/
IFSCA Recruitment	IFSCA Grade A (Assistant Manager)

IFSCA Full Form & Its Departments/ Division

As mentioned earlier, IFSCA Full Form is the International Financial Services Centres Authority and it is located in Gandhinagar, Gujarat. There are several departments/ divisions of IFSCA which are given below:

Department of Capital Markets
Department of Metals and Commodities
Department of IT and Fintech
Department of Banking
Department of Development
Department of Legal Policy and Legal Affairs
Department of Insurance
Department of General Administration
Department of Economic Policy & Analysis
Department of Regulatory Policy and & Regulatory Affairs

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Role/Functions of IFSCA

The candidates must check out the below-mentioned points to have a clear idea on what is the role of IFSCA.

The IFSCA is responsible for regulating and developing the IFSCs in India.
Its main objective is to promote and develop the financial products and services offered by these centres.
It also aims to attract foreign investment into the country and increase the competitiveness of the Indian financial services sector on a global scale.
The IFSCA has the power to grant licences to companies operating within the IFSCs.
It also regulates and supervises financial institutions operating in these centres, such as banks, insurance companies, and stock exchanges.
The IFSCA also has the power to investigate and penalize companies that violate its regulations.

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Advantages of IFSCA

The candidates must check out the below-mentioned advantages of IFSCA. Check out the same.

Boosts international trade and investment:

The IFSCA helps to create a favorable environment for international trade and investment by providing a range of financial services such as banking, insurance, and capital market services. It also facilitates cross-border transactions and investments by regulating financial activities in a transparent and efficient manner.

Attracts global financial players:

The IFSCA provides a platform for global financial players to set up their businesses in India. With its world-class infrastructure and regulatory framework, the IFSCA attracts international financial institutions and companies to invest in India and provides them with an opportunity to expand their operations in the Indian market.

Provides a business-friendly environment:

The IFSCA provides a business-friendly environment for financial institutions by offering a range of incentives such as tax benefits, simplified regulatory processes, and a single-window clearance system. This enables companies to set up their operations quickly and efficiently, and focus on their core business activities.

Facilitates innovation and growth:

The IFSCA encourages innovation and growth in the financial services industry by providing a conducive environment for research and development activities. It also provides a platform for financial technology (Fintech) companies to develop new products and services, and collaborate with other stakeholders in the industry.

Promotes employment opportunities:

The IFSCA provides employment opportunities to skilled professionals in the financial services industry. It helps to create a large number of jobs in areas such as banking, insurance, capital markets, and fund management. This helps to boost the overall economic growth of the country.

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IFSCA Chairman

As the IFSCA was established in 2020, its first chairperson served his tenure from 9th July 2020 to 8th July 2023. The first IFSCA Chairman was Mr Injeti Srinivas. He was the former corporate affairs secretary and 1983-batch IAS officer of the Odisha cadre. IFSCA Chairman was appointed for a period of three years. Now, from 1st August 2023, IFSCA Chairman is Shri K Rajaraman.

IFSCA Recruitment 2024

The International Financial Services Centres Authority released IFSCA Recruitment for Assistant Managers on 27th March 2024. A total of 10 vacancies are released. The post of Assistant Manager comes under IFSCA Grade A Officers. As the vacancies are fewer, the competition level will be quite high so the candidates must be prepared well. For the same, the best strategy is to attempt mock tests on a regular basis.

If you are still thinking about how to prepare for IFSCA Recruitment Exam in an organized manner, then you should definitely check out IFSCA Grade A Study Material

For the complete preparation of IFSCA, we have come up with IFSCA Grade A Online Courses 2024 where we have covered everything that an aspirant needs, so do not forget to check it out.

IFSCA Grade A Salary

Candidates who are preparing for this exam must be very curious to know how much they can earn after being appointed as Assistant Managers in IFSCA. Well, the salary structure is quite impressive here. The pay scale for IFSCA Grade A Officers is Rs. 44500- 2500(4)- 54500- 2850(7)- 74450- EB- 2850(4)- 85850- 3300(1)- 89150 (17 years). The detailed salary structure, probation period and more things can be checked in the article given below.

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IFSCA FAQs

Q. What is IFSCA Full Form?

IFSCA Full Form is the International Financial Services Centres Authority.

Q. When was IFSCA Established?

IFSCA was established on 27th April 2020.

Q. Who is the first IFSCA Chairman?

The first IFSCA Chairman is Injeti Srinivas.

Q. Which notification has been released for IFSCA Recruitment 2024?

The notification had been released on 27th March 2024 for the post of Assistant Managers under IFSCA Recruitment 2024.

Q. Where is IFSCA Headquarters?

IFSCA Headquarters is located in Gandhinagar, Gujarat.

Q. Is IFSCA a statutory body?

Yes, IFSCA is a statutory body.

Q. Who is the current chairman of IFSCA?

The current chairman of IFSCA is Shri K Rajaraman.

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Saloni Singhal

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