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Indian Banks, Finance Groups and Insurers Setting Up in GIFT IFSC: The Home Regulator’s Consent
Almost every discussion of setting up in GIFT IFSC concentrates on IFSCA: which registration, what capital, which permitted activities. For a regulated financial group that is only
Cross-Border Mergers, Reverse Flips and GIFT IFSC
Indian law generally does not permit a foreign company to directly re-domicile to India. Instead, a foreign entity may merge into a surviving Indian company under Section 234 of th
Resident Individuals and GIFT IFSC: What the Liberalised Remittance Scheme (LRS) Now Permits
For a resident individual, GIFT IFSC presents a paradox. It is in Gujarat, but a financial institution there is treated as a person resident outside India for foreign exchange purp
One Regulator, Fourteen Statutes: How the IFSCA Act, 2019 Allocates Regulatory Power in GIFT IFSC
GIFT IFSC is often described as having a “unified regulator”. That is accurate but incomplete. The International Financial Services Centres Authority (IFSCA) did not re
RBI’s New Directions for Novation of OTC Derivative Contracts
Introduction to Novation in OTC Derivatives Contracts The Reserve Bank of India has introduced a significant regulatory framework through the Draft Reserve Bank of India (Novation
RBI’s MIBOR Benchmark Report: Legal and Regulatory Insights
Introduction The Reserve Bank of India (RBI) has played a crucial role in developing and maintaining financial stability within India’s economy. One of its key initiatives is the
Justice Nagarathna’s Critique of Demonetization: Dissenting Voices
Introduction: Understanding Justice Nagarathna’s Dissent Justice BV Nagarathna’s dissenting opinion in the Demonetization Case stands as a significant critique of one o
IRAC Norms RBI: NPA Classification and Provisioning Framework
Introduction The Indian banking sector has undergone significant regulatory transformation with the Reserve Bank of India’s landmark notification dated November 12, 2021, con
