IFSCA issues norms for setting up
On Monday, IFSCA released a framework for setting up and operating an international trade financial services platform to provide trade finance services at international financial services centres. 
This framework will enable exporters and importers to get different types of trade finance services at a competitive platform. This framework will help improve their ability to convert their trade receivables into liquid funds and obtain short-term funding.
They said that “This framework will provide an opportunity to the participants to avail trade finance facilities for trade transactions such as export invoice trade financing, reverse trade financing, bill discounting under the letter of credit, supply chain finance for exporters, export credit (packing credit), insurance/ credit guarantee, factoring, and any other eligible product, on the ITFS platform”
The International Financial Services Centres Authority (IFSCA) laid its foundation in April last year under the guidelines of the International Financial Services Centres Authority Act, 2019. Its headquarters are situated at GIFT City, Gandhinagar, India.
The main gold of IFSCA is to develop a strong global connection and focus on the needs of the Indian economy and to serve as an international financial platform for the entire county and as a whole global economy.
