Injeti Srinivas appointed as the 1st Chairman of IFSCA

Former Corporate Affairs Secretary Injeti Srinivas was appointed the first chairman of International Financial Services Centres Authority (IFSCA) for a period of three years.
He is the retired 1983 batch Indian Administrative Service (IAS) officer from the Odisha Cadre.
Injeti Srinivas has retired as the Secretary of the Ministry of Corporate Affairs on 31st May 2020.
In December 2019, Parliament passed a bill to set up a unified authority for regulating all financial activities at IFSCs in the country.
The first IFSC in the country has been set up at Gujarat International Finance Tec-City (GIFT) in Gandhinagar.
The IFSCA was established on April 27 this year and the head office would be set up in Gandhinagar.
IFSCA will consist of a Chairman, and one member will be nominated by each of the regulators under the IFSCA Act 2019 (SEBI, RBI, IRDAI etc are the regulators). Apart from this, there will also be two members of the Central Government in IFSCA.