Master Circular for Credit Rating Agencies
An entity desirous of seeking registration as Credit Rating Agency with the Authority shall file an application through the SWIT System. The CRA registered with the Authority shall pay fees in accordance with the circulars issued by the Authority on “Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC” dated May 17, 2023, February 06, 2024 and March 01, 2024 and as may be amended from time to time.
Single window IT-enabled system for application processing of entities desirous of setting up operations in GIFT IFSC
IFSCA has developed a Single Window IT System (SWITS) which, inter-alia, contains a Common Application Form (CAF), created by merging several existing forms including business-specific Annexure Forms. The SWITS aims to harmonise and simplify the process of submission of application under various Acts administered by IFSCA, in addition to the Special Economic Zones (SEZ) Act, 2005.
Guidelines on Cybersecurity and Cyber Resilience for regulated entities (REs) operating within GIFT IFSC
The primary aim of the consultation paper is to establish a principle-based cybersecurity framework that ensures the protection and resilience of financial institutions against evolving cyber threats. Given the growing complexity and sophistication of cyber-attacks, especially in international jurisdictions such as GIFT IFSC, securing the financial sector’s digital infrastructure is critical. This consultation seeks input from stakeholders to shape a robust cybersecurity framework, covering governance, third-party risks, audit mechanisms, and incident management.
IFSCA press release on conference on “Developing Alternative Dispute Resolution and International Arbitration Centre in GIFT-IFSC”
Panelists examined strategies for GIFT-IFSC to distinguish itself and effectively establish itself as a leading Arbitration hub. The discussion highlighted the importance of infrastructure, skilled professionals, and unique offerings which GIFT IFSC can offer. Experts shared insights into emerging trends such as digital arbitration and the integration of technology, emphasizing the potential for increased efficiency and accessibility in ADR processes.
