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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
On September 1, 2020, the IFSCA issued the IFSCA (Insurance) Regulations, 2020, for regulating the insurance sector in the IFSC. [18] On December 7, 2020, the IFSCA signed an MoU with the Abu Dhabi Global Market (ADGM) to promote and develop the financial services industry in their respective jurisdictions. [19] [20]
Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications.It is an Indian standard similar to SWIFT which is the international messaging system used for financial messaging globally.
The GIFT International Financial Services Centre (GIFT IFSC) is a financial centre and special economic zone in Gujarat International Finance Tec-City (GIFT City) covering 106 ha (261 acres) established in April 2015 as a financial hub to provide world-class infrastructure and services for financial institutions and companies operating in areas such as banking, insurance, capital markets, and ...
The name of the company has been changed from Export Credit Guarantee Corporation of India Limited to ECGC Limited with effect from 8 August 2014 as per the certificate issued by the Deputy Registrar of Companies, Registrar of Companies, Mumbai. ECGC Ltd. is the seventh largest credit insurer of the world in terms of coverage of national exports.
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
IFSC was established in Belize in 1999. The aim of the Commission is licensing of financial companies, as well as controlling and supervision of all regulated firms to bind all international financial services requirements to their activity. IFSC is regulated by the Ministry of Belize Securities and International Financial Services Commission Act.
Website ippbonline .com India Post Payments Bank , abbreviated as IPPB , is a division of India Post that is under the ownership of the Department of Post , a department under the Ministry of Communications of the Government of India .