IFSCA signs MOU with IRDAI

Current Context: International Financial Services Centers Authority(IFSCA) signed an MoU with the Insurance Regulatory and Development Authority of India (IRDAI) in Hyderabad.

• The MOU has been signed to strengthen inter regulatory exchange of information, technical cooperation, supervisory collaboration, and open avenues for developing innovative insurance solutions.
• About IFSCA –
• The statutory authority is responsible for the development and regulation of international financial services.
• Chairman – Injeti Shrinivas
• HQ – Gandhinagar, Gujarat
• About IRDAI –
• The regulatory body under the Government of India is tasked with regulating and licensing the insurance and re-insurance industries in India.
• HQ – Hyderabad
• Chairperson - Subhash Chandra Khuntia