Union Budget 2021: Govt should consider light touch regulatory regime to attract global lenders in IFSC On the tax front, it is important to make it easy for both the lessor and lessee to avoid tax leakage. Sunil Badala January 31, 2021 07:13:34 IST Government should look for ways to give tax relief. Reuters
The International Financial Services Centre (IFSC)’s Gujarat International Finance Tech-City (GIFT) is the first smart city in India that is fast emerging as an attractive destination for financial services players. After the setting up of the International Financial Services Centre Authority (IFSCA) [being the Unified Regulator for IFSC], it has witnessed some path-breaking regulations and policy announcements in a very short span of time for different aspects of financial services such as banking, stock-broking, investors in IFSC, etc.
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Global aircraft leasing entities show interest in Guj s GIFT City
By IANS |
Published on
Wed, Dec 16 2020 23:33 IST |
3 Views
Finance Ministry. (File Photo: IANS). Image Source: IANS News
New Delhi, Dec 16 : The International Financial Services Centre Authority on Wednesday said many global aircraft leasing entities have shown interest in setting up shop at the GIFT City in Gujarat.
The Union Finance Ministry, which oversees the authority, in a statement, said: Many global leasing entities have shown interest to set up leasing entity in IFSC in India as it provides them direct reach to one of the fastest growing aviation markets in the world.
Synopsis
At present, the Securities and Exchange Board of India (Sebi) rules allow private equity funds to borrow funds only for temporary funding needs. It prevents category 1 and 2 alternative investment funds (AIF) from borrowing more than four times a year and each borrowing must be for not more than 30 days and not more than 10% of the investable funds.
iStock
The IFSCA has also allowed AIFs set up in an IFSC to invest in another AIF of any category, which Sebi rules currently don’t allow.
Mumbai: The International Financial Services Centre Authority (IFSCA) has brought IFSC-based alternative investment funds on a par with offshore India focused funds established in jurisdictions such as Mauritius and Singapore by allowing them to borrow funds, burnishing the facility’s allure as the potential future home for such funds that are currently overseas.