Current Affairs · Financial Regulatory Bodies
The International Financial Services Centres Authority (IFSCA) regulates financial institutions and services within India's International Financial Services Centres (IFSCs). Which of the following statements about IFSCA is incorrect?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1IFSCA was established as a statutory body under the IFSCA Act, 2019.
- 2It operates under the Ministry of Finance, Govt of India, to regulate banking, insurance, and capital markets in IFSCs.
- 3It acts as a subordinate office under SEBI and must obtain SEBI's approval to regulate capital market products in the IFSC.✓
- 4IFSCA is empowered to regulate financial products, services, and institutions including derivatives within India's IFSCs.
Correct answer
It acts as a subordinate office under SEBI and must obtain SEBI's approval to regulate capital market products in the IFSC.
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