Current Affairs · Banking & Financial Regulations
Regarding the International Financial Services Centres Authority (IFSCA) revising the fee structure for entities in GIFT IFSC, which of the following best explains the conceptual rationale for shifting the recurring fee model for Global In-House Centres (GICs) and BATFs from an employee-based system to a turnover-based system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To prevent the establishment of small-scale service providers that primarily focus on low-value back-office operations without significant capital infusion.
- 2To simplify the auditing process for the regulator by using audited annual financial statements instead of tracking monthly payroll and headcount fluctuations.
- 3To incentivize firms to adopt high-end automation and artificial intelligence by penalizing those that maintain large physical workforces within the IFSC zone.
- 4To ensure that regulatory compliance costs are proportionally calibrated to reflect the actual business volume and operational scale of the firm rather than its workforce size.✓
Correct answer
To ensure that regulatory compliance costs are proportionally calibrated to reflect the actual business volume and operational scale of the firm rather than its workforce size.
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