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<h1>Authority Regulates and Develops Financial Services in IFSCs Under International Financial Services Centres Authority Act, 2019</h1> The International Financial Services Centres Authority Act, 2019 outlines the responsibilities of the Authority in developing and regulating financial products, services, and institutions within International Financial Services Centres. The Authority is tasked with overseeing existing financial entities permitted by any regulator prior to the Act's commencement and those notified by the Central Government. Additionally, the Authority can recommend new financial products and services for approval by the Central Government and perform other prescribed functions to ensure effective regulation and development within these financial hubs.