Module: General Practice
Q27: To develop GIFT City (IFSCA) as a "Global Finance Hub," the Budget 2026-27 delegated several powers to the IFSCA. Which of the following powers was NOT delegated to IFSCA in this specific budget?
✅ Correct Answer: B
IFSCA was NOT given powers to supervise domestic retail banking.
The Union Budget 2026-27 empowers IFSCA to regulate Variable Capital Companies (VCCs) and offshore activities.
Domestic Indian rupee savings accounts remain under RBI jurisdiction to prevent regulatory overlap.
The Union Budget 2026-27 empowers IFSCA to regulate Variable Capital Companies (VCCs) and offshore activities.
Domestic Indian rupee savings accounts remain under RBI jurisdiction to prevent regulatory overlap.