Shri Gyan Chand Jain IRS (C&IT 2006), presently Commissioner, Jammu GST & CX
Commissionerate, is appointed as Chief General Manager – International Financial Services Centres Authority (IFSCA) on central deputation basis, for a period of 03 (three) years.
The International Financial Services Centres Authority (IFSCA) was established on April 27, 2020, under the International Financial Services Centres Authority Act, 2019. Headquartered at GIFT City in Gandhinagar, Gujarat, it serves as India’s first and only unified regulator for international financial services.
Prior to its formation, financial activities in the International Financial Services Centre (IFSC) were regulated by multiple domestic financial regulators—namely, the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Pension Fund Regulatory and Development Authority (PFRDA), and Insurance Regulatory and Development Authority of India (IRDAI). The creation of the IFSCA consolidated these regulatory roles, aiming to streamline oversight and facilitate coordinated development within IFSCs.
The IFSCA’s core mandate is to develop and regulate financial products, services, and institutions within India’s IFSCs. Its establishment reflects the need for a holistic, globally competitive regulatory framework tailored to the dynamic nature of international financial markets.
By promoting ease of doing business, ensuring regulatory clarity, and fostering global connectivity, the IFSCA is positioning GIFT IFSC as a premier international financial hub. It not only supports India’s economic priorities but also aims to serve the wider region and global economy with a world-class financial ecosystem.
IndianBureaucracy.com wishes Shri Gyan Chand Jain the very best.