In a significant step toward strengthening India’s international financial services architecture, the International Financial Services Centres Authority (IFSCA) and the Indian Institute of Corporate Affairs (IICA) signed a landmark Memorandum of Understanding (MoU) at the IFSCA headquarters in GIFT City.
The MoU was formally executed on February 20, 2026, by Shri Gyaneshwar Kumar Singh, Director General & CEO, IICA, and Shri K. Rajaraman, Chairperson, IFSCA, in the presence of senior officials and distinguished dignitaries.
Strengthening Governance in IFSC
As the unified regulator of India’s International Financial Services Centres (IFSC), IFSCA oversees a rapidly expanding ecosystem of financial institutions operating under the legal framework of the Companies Act, 2013. These entities function within a specialized regulatory environment with certain exemptions, under the administrative oversight of the Ministry of Corporate Affairs.
IICA, functioning under the Ministry of Corporate Affairs, serves as a premier think tank and capacity-building institution in corporate governance, regulatory reforms, and policy advisory services.
Scope of the MoU
The agreement establishes a structured collaboration framework between IFSCA and IICA across:
Capacity building
Policy research
Knowledge partnership
The objective is to enhance regulatory effectiveness and strengthen corporate governance standards within GIFT-IFSC.
Training and Policy Support Initiatives
Under the partnership:
IICA will provide training and policy support to entities registered in IFSC.
Online certificate programs, induction modules, and specialized training sessions will be conducted for IFSCA officials.
Focus areas include:
Corporate and allied laws
Corporate governance frameworks
Environmental, Social and Governance (ESG) standards
Cross-border transactions
Corporate restructuring
This collaboration is expected to institutionalise a standardized corporate governance ecosystem within GIFT-IFSC, aligning it with evolving global regulatory benchmarks and governance best practices.
