Quick Summary
The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India. IFSCA vide circular dated 9thJuly 2021 issued the framework for setting up of International Trade Financing Services Platform (ITFS) at GIFT International Financial Services Centre (IFSC) for providing Trade Financing Services.
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FAQ :
The ITFS is an electronic platform designed to facilitate trade finance requirements for exporters and importers by providing access to multiple financiers globally.
The International Financial Services Centres Authority (IFSCA) is inviting applications.
The platform will offer services such as Factoring, Forfaiting, and other trade financing solutions.
The deadline for submitting applications is 15th September 2021.
Upon satisfaction, IFSCA will grant an in-principle approval to operate within the IFSCA Regulatory Sandbox for a specified period before regular operations commence.
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