Pramod Rao Appointed as Member in the Board of International Financial Services Centre Authority (IFSCA)

The Ministry of Finance has appointed Pramod Rao, the Executive Director of SEBI, as a Member in the Board of International Financial Services Centre Authority (IFSCA). Pramod Rao takes over from Sujit Prasad, another Executive Director of SEBI, who had been serving as a Member representing SEBI since July 2020. With a remarkable career spanning esteemed institutions such as ICICI Bank and ICICI Securities Ltd, Pramod Rao brings valuable expertise to his new role. The IFSCA, established under the International Financial Services Centres Authority Act, 2019, holds the responsibility of developing and regulating financial products, services, and institutions within India’s International Financial Services Centres (IFSC). Presently, the operational IFSC in India is located at GIFT City in Gujarat, which has been actively attracting foreign businesses with a range of fiscal incentives and measures to enhance its appeal as an international financial hub.