IFSCA allows banks in IFSCs to undertake portfolio management, investment advisory services
SECTIONS
Last Updated: Mar 16, 2021, 10:06 PM IST
Share
Synopsis
The market infrastructure institutions (MIIs) viz stock exchanges, clearing corporations and depositories are of critical importance in the growth and stability of any financial system, IFSCA said in a statement.
Agencies
The IFSCA also approved the Market Infrastructure Institutions Regulations, which will provide more flexibility in the shareholding of MIIs in the IFSC.
International Financial Services Centres Authority (IFSCA) on Tuesday approved the inclusion of portfolio management and investment advisory services in the permitted activities for banking units at IFSCs. The IFSCA also approved the Market Infrastructure Institutions Regulations, which will provide more flexibility in the shareholding of MIIs in the IFSC.