National
Urjit Patel calls for unified financial regulator for Gujarat’s GIFT City
Gandhinagar: Reserve Bank of India (RBI) Governor Urjit patel called for a unified regulator for the successful execution at India’s first International Financial Services Centre (IFSC) coming up at Gujarat International Finance Tec-City (GIFT).”A unified financial regulatory framework providing for a single regulator for GIFT City could contribute to better regulation and supervision of the financial entities,” Patel said here at the ongoing Vibrant Gujarat Global Summit 2017.
“While individual regulators can supervise the entities initially when the size of the business is small, a unified regulator would be necessary to pay undivided attention to the IFSC. Work on the design of such a framework should begin soon so as to be able to implement this in time,” he added.He also said that the existing laws governing financial contracts in India should be reviewed and gaps addressed.
“Based on the review, a world class legal framework for financial contracts in GIFT could be enabled, either by appropriately amending the existing laws governing financial contracts or enacting a fresh law,” Patel said.”Either way, this should be expedited, may be by constituting a high level working group to address this gap in mission mode,” he added.
The RG Marathon Championship Run 2023 in Goa was a testament to inclusivity. Initially resistant to including persons with disabilities, it eventually featured wheelchair and standing categories, thanks to advocates’ efforts. Participants showed exceptional determination, emphasizing unity in diversity. Despite challenging weather, they demonstrated the power of community support, highlighting the need for accessibility and inclusion in all state-level events in Goa.
Following the marathon, a gathering of differently-abled individuals, predominantly wheelchair users, convened for a celebratory lunch at Barzilla. The event, orchestrated by Mr. Shariq Khan and Mr. Zain Aftab, proprietors of Barzilla, honored the birthday of Sadaf Fatima, who also uses a wheelchair and is Mr. Shariq Khan’s wife.
The lunch featured esteemed guests including the Tourism Minister of Goa, MLA Rohan Khaunte of Porvorim, Social Welfare Minister Subhash Phal Desai, and the State Commissioner for Persons with Disability in Goa, Guruprasad Pawaskar. The event was impeccably hosted by Ms. Falak Fatima and Mr. Adarsh Parashar, offering activities such as Karaoke and Billiards. The youth of Goa exhibited their unwavering support for the community, making the party an unequivocal success.
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