Among the key family offices eyeing the GIFT-IFSC route are Premji Invest and Catamaran Ventures, which had applied last year with the IFSC Authority to set up and start operations at the emerging financial hub.
Premji Invest represents the family office of industrialist Azim Premji while Catamaran Ventures is its equivalent of Infosys cofounder N R Narayana Murthy.
Both had applied for registration as FIFs in August last year. However, Premji Invest received in-principle approval this year in January.
Upon receiving final approval, it would have been the first family office to operate from GIFT-IFSC.
"There are two kinds of family investment funds. One is those that look like moving funds from within India to invest in GIFT City and abroad. That is probably where the RBI and the government have to take a call (on) what policies should be brought about. That is under their regulatory purview," said K Rajaraman, chairperson, IFSCA.
Denne historien er fra June 14, 2024-utgaven av Business Standard.
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Denne historien er fra June 14, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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