IFSCA permits Banking Units to transfer of assets through participation agreements

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..... IFSCA permits Banking Units to transfer of assets through participation agreements
News and Press Release
Dated:- 30-12-2020

The International Financial Services Centres Authority (IFSCA .....

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..... ) today allowed Banking Units (BUs) to transfer assets to/from other financial institutions, persons resident in India and persons resident outside India through any internationally recognised standar .....

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..... d risk participation agreement. Transfer of assets through the risk participation agreement route is a common practice in many jurisdictions especially in the field of trade finance. Such risk partic .....

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..... ipation is undertaken as a bilateral contract under a standard document called a risk participation agreement between the two institutions (buying and selling entity). One of the common standard risk .....

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..... participation agreement is the Master Risk Participation Agreement (MRPA) developed by the Bankers Association for Finance and Trade (BAFT). The above dispensation is expected to encourage risk parti .....

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..... cipation of foreign currency assets through BUs in IFSC instead of banks in foreign jurisdictions.
News - Press release - PIB .....

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