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InCorp Global Becomes First Firm at GIFT IFSC to Receive BATF Licence Approval

Published on October 28, 2024
Current Context: On October 16, 2024, InCorp Global made history by becoming the first company at the Gujarat International Finance Tec-City (GIFT IFSC) to receive a BATF (Bookkeeping, Accounting, Taxation, and Financial Crime Compliance) licence.
InCorp Global Becomes First Firm at GIFT IFSC to Receive BATF Licence Approval
  • This significant milestone falls under the new IFSCA (BATF Services) Regulations, 2024.
  • Key Highlights:
    • Regulatory Framework: The IFSCA (BATF Services) Regulations, 2024, set a comprehensive framework for offering BATF services at GIFT IFSC, enhancing the regulatory environment for financial services.
    • Scope of Services: With the BATF licence, InCorp Global can now provide a wide range of services, including bookkeeping, accounting, taxation, and financial crime compliance. This licence goes beyond traditional banking and financial services, extending to various industries.
    • Strategic Location: GIFT IFSC, designed as an international financial services hub, offers a strategic location for global businesses to operate in a regulated environment.
    • Implications: This licence enables InCorp Global to attract a diverse clientele, including multinational corporations and local enterprises, seeking high-quality BATF services.

Question:

1 Which company made history by becoming the first to receive a BATF license at GIFT IFSC?

  • A) InCorp Global
  • B) ICICI Bank
  • C) HDFC Bank
  • D) SBI
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