What is the unique Martime Cluster coming up in GIFT city of Gujarat?

While launching Ro-Pax terminal at Hazira and flagging-off Ro-Pax ferry service between Hazira and Ghogha on November 8, 2020, Prime Minister Narendra Modi said that Gujarat maritime cluster ports, a dedicated system to address Ports to sea-based logistics, will be built in GIFT city. Maritime Cluster Project While the concept of maritime clusters is new ..

Month: Current Affairs - November, 2020

Category: India Nation & States Current Affairs • States Current Affairs

Topics: GIFT • Gift City • Gujarat • maritime project

Injeti Srinivas Committee submits report

On October 22, 2020, the Injeti Srinivas Committee submitted its second interim report to the chairperson of International Financial Services Centres Authority (IFSCA). It was an IFSCA Expert Committee that was constituted to study about the international retail business development in IFSC. Background The committee as constituted to make recommendations on promoting international retail business ..

Month: Current Affairs - October, 2020

Category: Reports & Indexes Current Affairs

Topics: foreign funds • Foreign Investment • GIFT • Gift City • IFSC • Injeti Srinivas • Insurance Companies • NRI investments

Injeti Srinivas appointed First Chairman of International Financial Services Centre Authority

On July 6, 2020, the retired 1983 batch IAS officer from Odisha Cadre, Injeti Srinivas was appointed as the first chairman of the International Financial Service Centre Authority. Highlights The retired diplomat has been appointed as the chairman for a period of three years. He retired from service as Secretary to Ministry of Corporate Affairs. ..

Month: Current Affairs - July, 2020

Category: Persons in News Current Affairs

Topics: Gift City • IBC • IFSCs • Injeti Srinivas • Insolvency and Bankruptcy Code • International Financial Services Centre

INR-USD Futures and Options Contracts launched by Finance Minister

On May 9, 2020, the Union Finance Minister Smt Nirmala Sitaraman launched the INR-USD Futures and Options contracts in the BSE and NSE platforms. They were launched at the GIFT International Financial Service Centre (IFSC) in Gandhinagar, Gujarat through video conference. Significance The contracts have been launched to increase economic activity and employment in the ..

Month: Current Affairs - May, 2020

Category: Economy & Banking Current Affairs

Topics: Bombay Stock Exchange • Finance Minister • Gift City • IFSC • National stock exchange • nirmala sitaraman • Stock Market • Stock Trading

Budget 2020: Financial Sector

The Budget 2020-21 has been framed on the basis that Governance and Finances are the two major hands in achieving the three themes of the budget. The three themes include aspirational India, Economic Development and Caring India The Budget has allocated funds for the following in the efforts of achieving 5 trillion USD economy. Public ..

Month: Current Affairs - February, 2020

Category: India Nation & States Current Affairs

Topics: Budget • Finance • Gift City • MSME • NBFC • PSBs • RBI • union budget 2020-21 • Union Budget Session