New Delhi: International Financial Services Centers Authority (IFSCA) signed a MoU with IIML-EIC at IIM Lucknow’s Noida campus in Uttar Pradesh to enable cooperation and collaboration on diverse initiatives regarding FinTech.
The agreement aims to establish a cooperative and mutually beneficial relationship between IFSCA and IIML-EIC in supporting and facilitating FinTech and TechFin companies.
The IFSCA regulates international financial services in the IFSC, which is a distinct international financial jurisdiction. It strives to have a strong global presence and focus on the needs of the Indian economy, as well as serve as an international financial platform at the regional and global levels.
The IIML-EIC is focused on providing speedy commercialization of technology and products through an accelerator program, seed capital, corporate venture capital funds, smart co-working space, corporate market access, and mentoring and training programs.
This MoU will allow FinTechs registered with IIML-EIC to access IFSCA's Regulatory and Innovation Sandbox and apply for the IFSCA (FinTech Incentive) Scheme, 2022.
