Under which law was the International Financial Services Centres Authority established?
- A.The SEBI Act, 1992
- B.The IFSCA Act, 2019
- C.The Banking Regulation Act, 1949
- D.The FEMA, 1999
Correct answer
Explanation
The correct answer is the IFSCA Act, 2019. The release describes IFSCA as the unified regulatory authority set up by the Government of India under an Act of Parliament for the development and regulation of financial products, financial services and financial institutions in India's International Financial Services Centres. Its Chairperson is K. Rajaraman. Option A, the SEBI Act, created the securities market regulator and is not the statute behind IFSCA, although securities business inside an IFSC does fall within IFSCA's remit. Option C, the Banking Regulation Act, governs banking companies in the domestic market and is administered with the Reserve Bank of India. Option D, the Foreign Exchange Management Act, deals with foreign exchange transactions generally. Only the IFSCA Act is the founding law, and its year, 2019, is the detail most often asked.
Read the full article: GIFT IFSC Banks Disburse $52.82 Billion Under RBI Swap Facility
Practice Questions
How much had IFSC Banking Units at GIFT City sanctioned under the RBI's FCNR(B) swap facility as on 31 August 2026?
- A.USD 28.60 billion
- B.USD 37.26 billion
- C.USD 54.02 billion
- D.USD 62.40 billion
Show answer
That is the figure twenty IFSC Banking Units had sanctioned under the Reserve Bank's special swap facility for FCNR(B) deposits as on 31 August 2026, and about USD 52.82 billion of it had already been disbursed.
Read the full explanation →How much did Indian banks raise through bond listings on IFSC exchanges between April and August 2026?
- A.USD 9.17 billion
- B.USD 11.12 billion
- C.USD 11.62 billion
- D.USD 14.80 billion
Show answer
Indian banks raised that amount through bond listings on IFSC exchanges over the five months from April to August 2026.
Read the full explanation →Who is the Chairperson of IFSCA, as named in the release?
- A.K. Rajaraman
- B.Shaktikanta Das
- C.Tuhin Kanta Pandey
- D.Mia Oka
Show answer
He is quoted in the release saying that the rapid scale-up of banking activity at GIFT-IFSC shows the depth and growing international orientation of India's International Financial Services Centre, and that the centre is serving as an effective bridge between global pools of capital and India's financing needs.
Read the full explanation →On which stock exchanges is the equity share capital of the acquirer listed?
- A.Only the National Stock Exchange of India
- B.Only the Bombay Stock Exchange
- C.The Bombay Stock Exchange and the National Stock Exchange of India
- D.The Calcutta Stock Exchange and the Bombay Stock Exchange
Show answer
Kotak Mahindra Bank is described as a scheduled commercial bank licensed by the central bank to carry on banking business, with its equity share capital listed on both these exchanges.
Read the full explanation →Which business of Deutsche Bank in India is being acquired by Kotak Mahindra Bank?
- A.Corporate and investment banking
- B.Retail, private banking and wealth management
- C.Custody and fund accounting
- D.Treasury and foreign exchange dealing room
Show answer
The target business is precisely the retail banking and private banking segment together with the wealth management arm that the seller runs through its branches in India, and it is moving as a going concern on a slump sale basis.
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