GIFT City based the IFSCA has cancelled the license granted to Prowess Insurance Brokers Pvt. Ltd. (PIBPL), to operate a Branch office in GIFT IFSC as IFSC Insurance Intermediary Office (IIIO). The action is taken in light of non-compliance with directions issued by IFSCA and the provisions of the IFSCA (Insurance Intermediaries) Regulations, 2021.
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