K Rajaraman, chairman, International Financial Services Centres Authority
The main objective of IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.
New Delhi:The government has extended the tenure of K Rajaraman, chairman, International Financial Services Centres Authority( IFSCA) till he turns 65.
Rajaraman, a 1989-batch Indian Administrative Service (IAS) officer, was appointed for a three-year term initially and his tenure is ending today.
He had taken charge as chairman of IFSCA on August 1, 2023.
The government has notified Rajaraman’s extension on Thursday.
He had served as the secretary to the Government of India in the Department of Telecommunications before joining IFSCA.
IFSCA, a unified regulatory body set up in April 2020, to develop and regulate financial products, services, and institutions in India’s international financial services centers(IFSC).
At present, GIFT IFSC is the maiden international financial services centre in India.
It is headquartered at GIFT City, Gandhinagar.
The main objective of IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial hub for the entire region and the global economy as a whole.
Today, GIFT-IFSC is home to many Indian and international financial institutions including banks, insurers and reinsurers.