HYDERABAD: TRS MP BB Patil wanted the Central government to establish an International Financial Services Centres (IFSC) for south in Hyderabad. Stating that the state is centrally located and ideally suited with good infrastructure, he said it is best place for setting up the centre.
Participating in the debate on the Bill introduced by Finance Minister Nirmala Sitharaman for establishment of an authority to develop and regulate the financial services market, the TRS MP said: “Currently, banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators like RBI, SEBI and IRDAI, It also requires regular clarifications and frequent amendments in the existing regulations. The development of financial services and products in would require focussed and dedicated regulatory interventions,” Patil said.