{"id":117758,"date":"2021-07-14T11:06:16","date_gmt":"2021-07-14T11:06:16","guid":{"rendered":"https:\/\/www.edristi.in\/?p=117758"},"modified":"2021-07-14T11:06:17","modified_gmt":"2021-07-14T11:06:17","slug":"framework-for-setting-up-itfs-platform-released-by-ifsca","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/framework-for-setting-up-itfs-platform-released-by-ifsca\/","title":{"rendered":"Framework for setting up ITFS platform released by IFSCA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Question: In which of the following year IFSCA was established?<\/strong><br>a) April 2020<br>b) February 2019<br>c) March 2021<br>d) None of these<br><strong>Answer: (a)<br>Related Facts:-<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>On 12 July 2021; the International Financial Services Centres Authority (IFSCA) released a framework.<\/li><li>The framework is for setting up and operating an international trade finance services platform (ITFS).<\/li><li>It will provide trade finance services at international financial services centres (IFSCs).<\/li><li>It will also enable exporters and importers to avail various types of trade finance facilities at competitive terms, for their international trade transactions.<\/li><li>According to an official statement the framework will function through a dedicated electronic platform ITFS.<\/li><li>This will help in their ability to convert their trade receivables into liquid funds and to obtain short-term funding, IFSCA said.<\/li><li><strong>This framework will provide an opportunity to the participants to avail trade finance facilities for trade transactions such as-<\/strong><\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Export invoice trade financing<\/li><li>Reverse trade financing,<\/li><li>Bill discounting under letter of credit,<\/li><li>Supply chain finance for exporters,<\/li><li>Export credit (packing credit), insurance\/ credit guarantee,<\/li><li>Factoring and any other eligible product, on the ITFS platform<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>IFSCA was established in April 2020 under the International Financial Services Centres Authority Act, 2019.<\/li><li>It is headquartered at GIFT City, Gandhinagar, Gujarat.<\/li><li>IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions at the International Financial Services Centre (IFSC) in India.<\/li><li>Currently, GIFT IFSC is the maiden international financial services centre in India.<\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><strong>By &#8211; Rajesh Tripathi<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Link:<\/strong><br><a href=\"https:\/\/www.business-standard.com\/article\/economy-policy\/ifsca-issues-norms-for-setting-up-operating-itfs-to-provide-trade-finance-121071201075_1.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.business-standard.com\/article\/economy-policy\/ifsca-issues-norms-for-setting-up-operating-itfs-to-provide-trade-finance-121071201075_1.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: In which of the following year IFSCA was established?a) April 2020b) February 2019c) March 2021d) None of theseAnswer: (a)Related Facts:- On 12 July 2021; the International Financial Services Centres Authority (IFSCA) released a framework. The framework is for setting up and operating an international trade finance services platform (ITFS). It will provide trade finance [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":117759,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[2338],"class_list":["post-117758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enew","tag-economics"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/117758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=117758"}],"version-history":[{"count":1,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/117758\/revisions"}],"predecessor-version":[{"id":117760,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/117758\/revisions\/117760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/117759"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=117758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=117758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=117758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}