IFSCA permits banking units to transfer assets through participation pacts

The dispensation is expected to encourage risk participation of foreign currency assets through BUs in IFSC instead of banks in foreign jurisdictions, IFSCA said in a statement. The first IFSC in the country has been set up at the Gujarat International Finance Tec-City (GIFT) in Gandhinagar.

from Banking/Finance-Industry-Economic Times https://ift.tt/3o0q4Lj