The Securities and Exchange Board of India (Sebi) has rejected at least 350 applications of its officials, seeking to join newly-formed unified authority International Financial Services Centres Authority (IFSCA), which regulates government's ambitious pet project GIFT city institutions. The authority is being set up to regulate country’s first international financial services centres catering to customers outside the jurisdiction of the domestic economy.
These centres essentially deals with financial products and services across borders. The GIFT city has a direct ...
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