The South India Federation aims to become an all India Federation of IFAs by empanelling other associations.
IFA groups from the south are coming under an umbrella body called ‘South India Federation’ which will represent 97 districts, thereby giving voice to more than 900 IFAs. Spearheading the move is Ramesh Bhat, the founder of south India’s popular group - IFA Galaxy.
This federation seeks to get registered with SEBI soon. “The idea behind registering with SEBI is to enable the regulator to have dialogue with one entity which will represent IFAs across south,” said Ramesh Bhat of IFA Galaxy
Currently there are five IFA associations in south, representing states/UTs like Tamil Nadu (TNIFAA), Kerala (AKIFAA), Pondicherry (PIFAA), Karnataka (KAMFA) and Andhra Pradesh (APIFA).
“The federation won’t micro-manage its associations. The federation will focus on the larger industry issues and will have interactions with SEBI and other stakeholders,” said Ramesh Bhat.
The federation plans to give complete independence to each of its state associations to carry out their activities. Each district will have to pay a fee of Rs 2500 annually to South India Federation. Ramesh said that he was also going to have a dialogue with other IFA associations like ASK Circle from Kolkata, FIFA from Mumbai and DFDA from Delhi to become its member so that an ‘All India Federation of IFAs’ could be formed.
