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.source https://economictimes.indiatimes.com/industry/banking/finance/banking/ifsca-permits-banking-units-to-transfer-assets-through-participation-pacts/articleshow/80024082.cms
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