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KFin Technologies or KFintech has started its operations in GIFT City. KFintech has formally signed up with 4 GIFT city funds and 2 global funds in GIFT City, as discussions with some other asset managers continue, said the company.
With this, the RTA can service global clients. The RTA will be exempted from certain domestic laws; instead, it will follow international practices.
In a press release, Sreekanth Nadella, MD and CEO, KFintech said, “With IFSCA established with an intent to provide a world-class regulatory environment as a unified regulator with a high degree of inter-regulatory coordination and a holistic vision to promote ease of doing business in GIFT City, it’s an important step towards bringing financial services transactions relatable to India, back to Indian shores. Our presence in GIFT City will provide the clients wishing to set up their presence in GIFT City with the required market infrastructure and services.”
Currently, a few fund houses – ABSL MF, HDFC MF and Nippon India MF have either started or are about to start their services in GIFT City.
