Category: Personal Finance

Mastercard expands cryptocurrency services with wallets, loyalty rewards, BFSI News, ET BFSI

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Mastercard Inc said on Monday it would allow partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under loyalty programs.

The credit card giant said it would offer these services in partnership with Bakkt Holdings Inc, the digital assets platform founded by NYSE-owner Intercontinental Exchange.

Founded in 2018, Bakkt went public earlier this year through a $2.1 billion merger with a blank-check company. Shares of the company were up 77% at $16.19 on Monday.

Mastercard said its partners can also allow customers earn and spend rewards in cryptocurrency instead of loyalty points.

The company had said in February https://www.reuters.com/article/us-crypto-currency-mastercard-idUSKBN2AA2WF it would begin offering support for some cryptocurrencies on its network this year.

Last year, rival Visa Inc had partnered https://www.reuters.com/article/us-blockfi-crypto-currency-visa-idUSKBN28B603 with cryptocurrency startup BlockFi to offer a credit card that lets users earn bitcoin on purchases.

Bitcoin, the world’s largest cryptocurrency, touched a record high of $67,016 last week after the debut of the first U.S. bitcoin futures-based exchange traded fund. It has more than doubled in value this year.



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How To Check ITR-V Receipt Status Online?

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Taxes

oi-Vipul Das

|

Upon e-filing the Income Tax Return (ITR) whether offline or online it is an important task to check or verify your Income Tax Return. As a consequence, a taxpayer can authenticate his or her Income Tax Return using a Digital Signature Certificate (DSC), Aadhaar OTP, EVC using Prevalidated Bank Account Details, and EVC using Prevalidated Demat Account Details. However, taxpayers who do not wish to e-verify their Income Tax Returns must send a signed ITR-V to “Centralized Processing Center, Income Tax Department, Bengaluru – 560500” through regular or speed post within 120 days from the date of filing.

This signifies that the filed ITR should be e-Verified later using the ‘My Account > e-Verify Return’ option online, or the verified ITR-V should be forwarded to CPC, Bengaluru. Unverified ITRs are not regarded legitimate and will not be processed by the department, according to income tax regulations and additionally, if you are eligible for an income tax refund, you are required to verify your ITR by sending it to the Income Tax Department and upon successful verification by the department, the applicable refund amount will be granted. As the tax department allows a time frame of 120 days, you must ensure that your ITR-V is received by the income tax department in a timely manner. Here’s how you can check or verify the status of ITR-V on the new income tax portal.

How To Check ITR-V Receipt Status Online?

Steps to verify ITR-V receipt status online

  • Visit https://www.incometax.gov.in/iec/foportal and under the ‘Our Services’ section click on ‘Income Tax Return (ITR) Status’.
  • Now you will be redirected to this page https://eportal.incometax.gov.in/iec/foservices/#/pre-login/itrStatus where you need to enter the acknowledgment number and registered mobile number.
  • Click on ‘Continue’ and you will get a one-time password (OTP) on your registered mobile number.
  • Enter the OTP and click on ‘Submit’ for verification.
  • Upon successful verification of the submitted OTP, you can track the status of your ITR submitted and the status will be displayed as ‘ITR verified’ if your ITR-V has been reviewed and verified by the Income Tax Department.
  • If the ITR-V has not yet been reviewed and verified by the tax department, the status will be displayed as ‘Pending for e-verification.’
  • Furthermore, you will get a confirmation email or SMS once the ITR-V has been acknowledged by the Income Tax Department.
  • Only once your ITR has been approved, it will be processed further by the department and an intimation notice under section 143(1) will be issued on behalf of you once the ITR has been effectively verified.

Points to note while sending a signed ITR-V to the Income Tax Department

There are a few things to keep in mind which are as follows while sending a signed ITR-V to the Income Tax Department.

  • The print-out of the ITR-V must be filled and signed out completely in blue ink only and it must be sent through normal or speed post to the tax department.
  • The bar code, as well as the numbers specified in the ITR-V form, should be clearly visible hence do not write anything over it.
  • Multiple ITR-V can be sent to the department at a time, hence you can send more than one ITR-V form if any.
  • The signature on your ITR V should be the same as the signature on your PAN Card.
  • ITR-Vs submitted by courier will be rejected, and despite the fact that it is an official document, do not write anything on the front or backside of the form.
  • There are no additional documents required to send with the ITR-V, but make sure that you have printed it out before sending it.

Story first published: Tuesday, October 26, 2021, 10:58 [IST]



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4 Stocks To Buy For Long Term According To ICICI Securities

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Crompton Greaves Consumer- Strong margin amid challenging scenario

Crompton Greaves Consumer (CGCEL) is a leading fast-moving electrical goods (FMEG) company in India, with a strong presence in electrical consumer durables (78 percent of revenue) and lighting (22 percent of revenue).

Crompton Greaves Consumer stock has a target price of Rs. 525, which represents a 17 percent increase from current levels.

Q2FY22 Results of Crompton Greaves Consumer

  • Revenue was in line with expectations, with a positive margin surprise.
  • The ECD segment had an 18% increase in revenue year over year, bringing total revenue to Rs 1385 crore. In Q2, price increases ranged from 3% to 4% year over year.
  • Price increases, a stronger product mix (a 45 percent YoY increase in the premium fan), and cost-cutting efforts all helped to keep the EBITDA margin at 15.5 percent in the second quarter.
  • PAT increased by 12% year on year to Rs 159 crore, owing to improved margins and topline growth.

Target and Valuation

“GCEL’s share price has grown by 2.5x in the past five years (from ~Rs 184 in October 2016 to ~Rs 450 levels in October 2021). We maintain our BUY rating on the stock Target Price and Valuation: We introduce FY24E estimates and roll overvaluation at FY24 valuing the company at Rs 525 i.e. 40x P/E on FY23E EPS,” the brokerage has said.

TCI Express- Focus on pan-India presence, newer service offerings

TCI Express- Focus on pan-India presence, newer service offerings

TCI Express is a leading asset-light B2B express logistics provider with 28 sorting centres and 800+ owned pan-India centres spanning 40000 pick-up and delivery points.

TCI Express stock has a target price of Rs. 1950, which represents a 19 percent increase from current levels.

Q2FY22 Results of TCI Express

  • Sorting centers are on schedule for commissioning, and the results are on target.
  • Revenues increased by 28% year on year to $ 273 crore.
  • Due to lower higher utilisation and better cost control initiatives, EBITDA climbed 39 percent YoY to $ 45 crore, with margins of 16.6 percent (vs. 15.3 percent in Q2FY21).
  • Due to good operating performance, PAT increased by 45 percent to Rs 34 crore.

Target and Valuation

“Building pan-India owned branches and sorting centres in every major city supported by IT enabled transportation infrastructure is expected to build a strong entry barrier in the B2B division. We remain positive on the stock and maintain our BUY recommendation. Target Price & Valuation: We value the stock at Rs 1950 i.e. 37x P/E on FY23E EPS,” the brokerage has said.

According to ICICI Direct, TCI Express’s newer asset-light B2B products, such as Rail express, Pharma Cold Chain, and C2C express, are expected to contribute 25% of the topline, up from 15% currently. These operations are expected to boost consolidated EBITDA margins to 20% or higher.

Bata India- Change in product mix to boost revenue growth

Bata India- Change in product mix to boost revenue growth

Bata India is a key player in the Indian footwear market, with a presence in the men’s, women’s, and children’s categories.

Bata India stock has a target price of Rs. 2380, which represents a 21 percent increase from current levels.

“Bata has, over the last one year, delivered ~48% return whereas Relaxo delivered 101% returns owing to increased market share due to enhanced consumer preference towards open footwear. Strong revenue growth coupled with recovery in margin profile would enable Bata to reduce the valuation gap with Relaxo. Target Price and Valuation: We maintain our BUY recommendation on the stock and value Bata at Rs 2380 i.e. 50x FY24E EPS,” the brokerage has said.

According to brokerage, on a net basis, we anticipate the company adding 240 locations in FY22-24E, bringing the total number of outlets to 1765. Bata is also expanding its franchise network in Tier III-V cities, with 64 new franchise stores added in FY21, bringing the total number of franchise stores to 234. It plans to grow the franchisee store share to 30% during the following two years.

Multi Commodity Exchange; Market leadership, options volume to aid earnings

Multi Commodity Exchange; Market leadership, options volume to aid earnings

With a market share of 93 percent in commodity futures turnover, MCX is the market leader in India’s commodity derivatives exchanges.

MCX stock has a target price of Rs. 2000, which represents a 19 percent increase from current levels.

Results

  • The drop in ADTO at MCX had an impact on revenue and earnings.
  • Due to increased margin requirements, average daily futures turnover (ADTO) fell 32% YoY to | 25797 crore.
  • Option ADTO grew from Rs 1900 crore to Rs 6023 crore in the last quarter.
  • Operational revenue is down 30% year over year, while other income is down 10%.
  • Earnings of 33.2 crore, down 16.8% quarter-on-quarter and 43 percent year-on-year.

Target and Valuation

“MCX’s share price has grown by ~1.7x over the past five years (from ~| 1054 in July 2016 to ~| 1,798 levels in October 2021). Being a market leader in commodities exchange and a beneficiary of the increase in options volume, we retain our BUY rating on the stock. Target Price and Valuation: We value MCX at ~46x core FY23E EPS and net cash and maintain our target price at Rs 2000,” the brokerage has said.

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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NSE surpasses 5 crore registered investors, BFSI News, ET BFSI

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The number of registered investors on the National Stock Exchange of India (NSE) crossed five crore on Monday. While the journey from three crore registered investors to four crore registered investors took about 15 months, the next one crore investor registrations took less than seven months, the leading bourse said in a statement.

Total number of unique client codes registered with the exchange stand at 8.86 crore (clients could register with more than one trading member). “The milestone achieved today is the culmination of efforts put in by the government, the regulators, and all stakeholders to provide a bouquet of products, simplified client onboarding processes, investor education and awareness,” Vikram Limaye, MD and CEO, NSE said.

“I am sure with the focused efforts of all stakeholders; we should be looking at increasing penetration further and touching the 10 crore unique investors mark over the next 3-4 years,” he added. Total demat accounts in the country held with the two depositories — CDSL and NSDL– are at around 7.02 crore which include multiple demat accounts held by a single investor having a unique PAN. An investor can have more than one demat account or trading account with different depository participants and trading members which are linked to a single PAN. North Indian states contributed 36 per cent of the new investor registrations on the NSE. Western states accounted for 31 per cent, followed by southern and eastern states at 20 per cent and 13 per cent, respectively.

State wise, Maharashtra contributed 17 per cent followed by Uttar Pradesh with 10 per cent and Gujarat with 7 per cent of the new investor registrations.

The top 10 states accounted for 71 per cent of the new investor registrations. The growth in investor registrations has largely been driven from non-metro cities. The cities beyond the top 50 cities accounted for 57 per cent of the new investor registrations, while the cities beyond the top 100 cities, contributed to 43 per cent indicating that the growing interest in the equity markets is not restricted to the metros and a few tier-I cities.



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2 Stocks To Buy That Can Generate Returns Of Up To 46%

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Buy Orient Electric

Current market price Target price Gains%
Rs 344 Rs 500 46.00%

According to Motilal Oswal revenue grew 37% YoY and came in 19% above our estimate. “While the surge in commodity prices led to a 480 basis points YoY deterioration in gross margin, strong volume growth, led by operating leverage, cushioned the impact at the EBITDA margin level v/s our expectation.

“EBITDA grew 7% YoY and was 31% ahead of our expectation. Adjusted PAT grew by 7% and came in 46% ahead of our expectation,” the brokerage has said.

Target price of Rs 500 on the stock

Target price of Rs 500 on the stock

“With demand scaling back gradually and the upcoming festive season ahead, we believe Orient Electric is best placed to capture this trend, with its strong manufacturing and distribution capabilities. On account of its superior performance in 2QFY22, we increase our FY22-24E EPS by 5-6%. We forecast a revenue/EBITDA/adjusted PAT CAGR of 19%/21%/25% over FY21-24E. We value Orient Electric at 45x FY24E EPS, with a target price of Rs 500. At the current market price, the stock trades at a FY23E/FY24E P/E of 36x/30x. On a FY24E P/E multiple basis, Orient Electric is trading at a discount of 40%/15% v/s Havells and Crompton. On an EV/EBITDA basis, the discount stands at 48%/36%. We maintain our Buy rating,” the brokerage has said.

Buy Tata Consumer Products

Buy Tata Consumer Products

Broking firm, Motilal Oswal is also bullish on the stock of Tata Consumer Products and has set a price target of Rs 945 on the stock. According to the broking firm, the unlocking of sales and distribution synergies from the merger of group companies has started to yield results. This is evident from the market share increase in Tea (+190bp YoY) and Salt (+160bp YoY) in FY21 (it also increased in 1HFY22) on the back of an increase in numeric distribution. Tata Consumer Products doubled its direct reach to 1.1m by Sep’21. The company is establishing a strong S&D channel, which would act as a key growth driver.

“We maintain our earnings estimates (as performance in 2QFY22 was broadly in line) and arrive at our SoTP-based target price of Rs 945 per share. We maintain our Buy rating on the stock,” the brokerage has said.

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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5 Stocks To Buy For Traders In The Short-Term

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Market consolidation to continue

“Market would continue to track rise in covid cases in China and Russia for further cues. Tomorrow two major banks viz Axis Bank and Kotak Bank would be declaring their results and hence Bank Nifty would continue to be in focus. This apart all eyes would be on two large IPOs upcoming this week with Nykaa and Fino Payments Bank cumulatively raising Rs7000 crore,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

On Monday markets were mixed bag with attention focusing on the latest COVID-19 outbreak in China. Sentiments were also muted on account of Euro zone inflation which surged to multi-year high. On the other hand, investors are cautiously awaiting ECB’s Governing Council meet and UK budget later in the week. Oil prices continue hitting multi-year highs, lifted by tight global supply and strengthening fuel demand as economies recover from pandemic-induced slumps.

Stocks to buy for traders

Stocks to buy for traders

1) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia

ONGC: Buythe stock at Rs 160, Sell the stock at Rs 168, Stop Loss Rs 158

IGPL: Buy the stock at Rs 850, Sell the stock ast Rs 880, Stop Loss Rs 840

KEC International: BUY the stock at Rs 530, Target Rs 550, Stop Loss Rs 520

2) Manoj Dalmia, Founder and Director, Proficient Equities Private Limited

Bank of Baroda: BUY at Rs 96.50, Target Rs 102, Stop Loss at Rs 94

3) Ravi Singhal, Vice chairman, GCL Securities Limited

ONGC: BUY at Rs 161, Target Rs 170, Stop loss Rs 157

Disclaimer

Disclaimer

The above stocks are picked from various technical analysts. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Bajaj Finance Urges Customers to Stay Safe Against Online Frauds on Electronic Platform During Festive Season, BFSI News, ET BFSI

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Bajaj Finance Limited cautions its customers and the public at large to stay vigilant against online loan frauds and other types of frauds on electronic platform during this festive season. As a part of the Cybersecurity Awareness Month, the company issued an advisory to its customers over email and on their social media platforms, urging them to stay alert of the growing incidences of cyber frauds and how to stay safe online.

With festive season around, consumers are more prone to availing instant loans, shopping online, seeking various discounts and cashback offers which make them vulnerable to fall into the trap of cyber frauds. So, it’s critical that consumers remain alert and informed about frauds such as (including, but not limited to) fake ads on social media, website impersonation, identity theft, fake job offers, vishing, phishing, sim swapping, UPI frauds, fake loan approval letters, ‘too good to be true loan offers’, suspicious phone calls, phone calls by impersonators claiming to be representatives of Bajaj Finance Ltd., suspicious links received on SMS or on various messenger platforms etc. (“frauds on electronic platform”).

The awareness advisory is a part of the continuous efforts of the company towards educating customers about frauds on electronic platform, the modus operandi of fraudsters who target unsuspecting users to carry out loan frauds and cyber security scams and the necessary safety measures to follow to avoid getting duped.



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ESAF Small Finance Bank, Anand Rathi Wealth among 7 cos to get Sebi’s nod for IPO, BFSI News, ET BFSI

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New Delhi, As many as seven companies, including ESAF Small Finance Bank, Sapphire Foods India and Anand Rathi Wealth, have received capital markets regulator Sebi‘s nod to raise funds through initial public offerings (IPOs). In addition, PB Fintech, which operates an online insurance platform Policybazaar and credit comparison portal Paisabazaar, Paytm‘s parent firm One97 Communications, life sciences company Tarsons Products and HP Adhesives too received Sebi’s clearance to float their IPOs.

These companies, which filed their draft papers with Sebi between July and August, obtained the regulator’s observations during October 18-22, an update with Sebi showed on Monday.

In Sebi’s parlance, the issuance of observation is equivalent to the regulator’s approval.

ESAF Small Finance Bank’s Rs 997.78-crore public issue comprises a fresh issue of equity shares worth Rs 800 crore and an offer for sale of Rs 197.78 crore by existing shareholders, according to draft red herring prospectus (DRHP).

Under the offer for sale, the promoter will be selling shares worth Rs 150 crore, PNB MetLife would offload shares to the tune of Rs 21.33 crore, Bajaj Allianz Life will offer shares of Rs 17.46 crore, PI Ventures will sell Rs 8.73 crore worth shares and John Chakola will offer shares worth Rs 26 lakh.

The IPO of Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, will be entirely an offer of sale (OFS) of 17,569,941 equity shares by promoters and existing shareholders.

As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.

In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.

The initial share-sale of Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, is completely an offer for sale of 1.2 crore equity shares by promoters and existing shareholders.

Those offering shares in the offer for sale are — Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri and Feroze Azee.

According to the draft papers, Paytm plans to raise Rs 8,300 crore through fresh issue of equity shares and another Rs 8,300 crore through the offer-for-sale route.

Paytm founder, managing director and chief executive Vijay Shekhar Sharma and Alibaba group firms will dilute some of their stake in the proposed offer-for-sale.

In addition, investors selling stake include Antfin (Netherlands) Holding BV, Alibaba.Com Singapore E-Commerce Private Ltd, Elevation Capital V FII Holdings Ltd, Elevation Capital V Ltd, SAIF III Mauritius Company Ltd, SAIF Partners India IV Ltd, SVF Panther (Cayman) Ltd and BH International Holdings.

The Rs 6,017.50 crore IPO of PB Fintech comprises a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of Rs 2,267.50 crore by existing shareholders.

As part of the OFS, SVF Python II (Cayman) will sell shares worth Rs 1,875 crore, Yashish Dahiya will offer shares worth Rs 250 crore and some other selling shareholders will also divest shares.

Tarsons Products’ IPO comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale of 1.32 crore equity shares by promoters and an investor.

As a part of the OFS, promoters — Sanjive Sehgal will offload up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares — and investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore equity shares.

HP Adhesives’ initial share-sale consists of fresh issuance of 41.40 lakh equity shares and an offer of sale of 4,57,200 equity shares by promoter Anjana Haresh Motwani.

The company manufactures a wide range of consumer adhesives and sealants products such as PVC, solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants and PVC pipe lubricant.

The shares of these companies will be listed on the BSE and NSE. PTI SP BAL BAL



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Gold inches lower on dollar uptick; focus on key central bank meetings, BFSI News, ET BFSI

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– Gold prices edged lower on Tuesday, weighed down by an uptick in the dollar as investors eye upcoming key central bank meetings this week.

FUNDAMENTALS

* Spot gold fell 0.1% to $1,805.96 per ounce by 0116 GMT. U.S. gold futures was flat at $1,806.60.

* On Monday, the metal rose nearly 1% to a high of $1,809.66, only about $4 shy of an over one-month peak scaled last week.

* The dollar rose 0.1% on Tuesday, recovering from a near one-month trough hit during the previous session. A stronger greenback makes gold more expensive for buyers holding other currencies. [USD/]

* Benchmark 10-year U.S. Treasury yields were also a tad higher at 1.6431%, raising non-interest bearing gold’s opportunity cost. [US/]

* Market participants eye meetings from the Bank of Japan and the European Central Bank (ECB) on Thursday. Neither of the central bank is likely to announce a change in policy, though the ECB might address how inflationary pressures could affect policy.

* The U.S. Federal Reserve and the Bank of England are also set to meet next week.

* Bank of England interest rate-setter Silvana Tenreyro said she needed more time to judge how the end of the government’s job-saving furlough scheme was affecting the labour market, adding to signs that she sees no urgency to raise rates.

* Gold is often considered an inflation hedge, though reduced stimulus and interest rate hikes push government bond yields up, translating into a higher opportunity cost for holding bullion which pays no interest.

* Spot silver fell 0.1% to $24.53 per ounce. Platinum edged 0.1% down to $1,056.35 and palladium gained 0.2% to $2,055.16.

DATA/EVENTS (GMT)

1400 US Consumer Confidence Oct

1400 US New Home Sales-Units Sept

(Reporting by Nakul Iyer in Bengaluru; Editing by Rashmi Aich)



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GIFT City regulator eases reinsurance biz norms to lure foreign, Indian companies, BFSI News, ET BFSI

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GIFT City

The International Financial Services Centre Authority (IFSCA), the regulator for Gujarat-based International Financial Services Centre (IFSC), has announced a new liberal regulatory regime for facilitating the formation of various international and Indian insurance businesses in the Gujarat International Finance Tec-City (GIFT City).

Global reinsurers can procure business from regions around India, by setting up operations at GIFT City.

No foreign reinsurer has set up operations at the centre till now, despite zero tax provision.

Eased rules

Under new regulations, foreign insurers and reinsurers can set up branch offices or subsidiaries as IFSC Insurance Offices (IIOs) to undertake insurance or reinsurance business from IFSC. Indian insurance and reinsurance companies, including foreign reinsurance branches (FRBs), registered with Insurance Regulatory and Development Authority of India, can also set up branch offices to undertake insurance or reinsurance business from IFSC.

In the case of a branch, a company does not need to bring in any capital, and in the case of subsidiaries, the companies will require a paid-up capital, as per Insurance Act, 1938, of Rs 100 crore for insurance and Rs 200 crore for reinsurance.

Onshore capital

No onshore assigned capital will be required for foreign insurers or foreign reinsurers setting up IIOs as branches. The assigned capital of $1.5 million can be maintained in home jurisdictions. Further, there’s no onshore solvency requirement for IIO in the IFSC. The assigned capital solvency margin will have to be maintained in the home jurisdiction.

The new regulations allow managing general agents under a binding agreement.

IFSCA efforts

The IFSCA has been making structured efforts to boost global investments in GIFT City, and to make IFSC a global financial hub at par with other IFSCs in the world. To boost the establishment of IFSC alternate investment funds, the IFSCA released a circular providing benefits with respect to leveraging activities, co-investment opportunities and relaxation of diversification norms. The desire of the IFSCA to form regulations that are intended to quickly bring the funds set up in IFSC at par with offshore funds is an important consideration for both foreign and Indian companies, while deciding on the jurisdiction of the fund.



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