Taxmann's Analysis | The Landscape of IFSC Banking – Regulatory Framework and Strategic Opportunities
Taxmann's Analysis | The Landscape of IFSC Banking – Regulatory Framework and Strategic Opportunities

Author: Taxmann

Publisher: Taxmann Publications Private Limited

Published: 2024-06-28

Total Pages: 22

ISBN-13:

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The International Financial Services Centres (IFSCs) in India, particularly at GIFT City, are designed to cater to the needs of international financial institutions and businesses. This article analyses the following points: ‣ What is an IFSC? ‣ Permitted Business Activities in IFSCs ‣ Setting up an IFSC Banking Unit ‣ Business Activities Carried Out by the IFSC Banking Unit ‣ Licensing Requirements for Indian and Foreign Banks in India's IFSCs ‣ Capital and Compliance Requirements ‣ Norms for Establishing Representative or Administrative Offices ‣ Prudential Regulatory Requirements for Banking Units Operating as IBUs or IBCs ‣ Exposure Ceiling Norms and Guidelines for Banking Units ‣ Currency Regulations for Conducting Business by Banking Units ‣ Transactions Through Foreign Currency Accounts ‣ Permitted Activities for Banking Units ‣ Maintenance of Books of Accounts, Records and Documents ‣ Exchange of Margins for Non-centrally Cleared Over-the-counter Derivative Contracts

Ireland
Ireland

Author: International Monetary Fund. European Dept.

Publisher: International Monetary Fund

Published: 2013-10-04

Total Pages: 97

ISBN-13: 1475546688

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This paper discusses Ireland’s Eleventh Review Under the Extended Arrangement. Policy implementation remains on track but recent weak GDP data point to a slower growth recovery. Real GDP declined in the first quarter, reflecting a fall in exports and weak domestic demand. Nonetheless, fiscal results remain on track and sovereign and bank bond yields have risen relatively modestly in response to declining global risk appetite. A range of other economic indicators are more encouraging, suggesting lower but still positive growth in 2013, though uncertainty remains. Growth projections for 2014 are also lowered. The IMF staff supports the authorities’ request for completion of the eleventh review.

Ireland
Ireland

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-09-10

Total Pages: 112

ISBN-13: 1475510470

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The 2012 Article IV Report on Ireland’s economy under the Extended Arrangement analyzes the banking crisis and Irish authorities’ steadfast efforts to restore stability. Public debt has been high, and the banking system has not served the financial needs of both households and the job-intensive small and medium enterprises (SME) sector. The crisis also created uncertainty for exports and investments. The Executive Board has identified steps needed to underpin a sustained economic recovery. Sustained financial sector reforms are recommended to restore sound credit and revive domestic demand.