Around 15 payment firms nearing licenses in Gujarat's GIFT City
Big news for fintech: around 15 payment companies (including Razorpay IFSC, Regulus Pay IFSC, and EbixCash World Money Global IFSC) are at an advanced stage of obtaining licenses in Gujarat's GIFT City.
They're at an advanced stage of obtaining licenses, thanks to GIFT City's unified regulatory setup that lets them work across banking, insurance, and capital markets, all under one roof.
GIFT City regulator eases compliance
GIFT City's single regulator makes life easier for payment firms by cutting out extra compliance headaches.
As IFSCA Executive Director Dipesh Shah explained, this helps companies offer services like cross-border payments and e-money with less friction.
Plus, lower capital requirements and easy outward remittances through the Liberalized Remittance Scheme (LRS) make it a great springboard for global expansion.