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Maharashtra CM sets up a high powered task force to develop IFSC

May 29, 2015 15:00 IST

Maharashtra Chief Minister Devendra Fadnavis on 29 May 2015 set up a high powered task force in order to make Mumbai a credible competitor among other International Financial Services Centres (IFSCs).

The Task Force would be co-chaired by Deutsche Bank Co-operative Chief Executive Officer (CO-CEO) Anshu Jain and SBI chairperson Arundhati Bhattacharya. They will devise the roadmap for development of IFSC.

Further, during the high-level meeting convened by Fadnavis on the IFSC plan it was mooted to set up an arbitration centre for dispute resolution on the lines of London as a basic requirement.

India’s first International Financial Services Centre (IFSC) became operational on 11 April 2015 at GIFT City in Gandhinagar, Gujarat.

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