Question- What is the position of International Financial Services Center (IFSC) of Gujarat International Finance Tech-City (Gift City) in the latest Global Financial Centers Index released recently?
(a) Seventh
(b) Tenth
(c) Eighth
(d) Ninth
Answer- (b)
Related Facts:
- In the ranking of competing global financial centers in September, 2017, the International Financial Services Center of Gift City, located in Gandhinagar, Gujarat, has been ranked 10th.
- GIFT IFSC is ranked tenth, ahead of Luxembourg, Seoul, Abu Dhabi, Toronto and Beijing in the list of the GFCI report, which has 15 centres that are likely to become more significant in the next few years.
- Global Financial Center Index (GFCI) is published twice a year:
Once from the China Development Institute (CDI) located in Shenzhen and once by the Z / Yen Partners in London. - The current index was published by the London-based Z / Yen Partners.
- GFCI report covers approximately 92 centers and 16 associate centers globally.
- Gift IFAC includes 10 major banks, 8 insurance companies and Participating Brokers.
- It also has two international exchanges (India INX and NSEIFSC).
Reference:
http://www.business-standard.com/article/markets/gift-city-s-ifsc-bags-10th-place-in-global-financial-centres-index-117100200495_1.html
http://www.thehindubusinessline.com/markets/giftifsc-ranks-at-10th-place-in-global-financial-centres-index/article9883732.ece