<h1>India Proposes Unified Financial Services Regulator for IFSCs to Compete Globally with London and Singapore.</h1> The government introduced the International Financial Services Center Authority Bill, 2019, in the Rajya Sabha to establish a unified regulatory authority for financial services in international financial services centres (IFSCs) in India. This authority will streamline regulation currently managed by multiple regulators, including the RBI, SEBI, and IRDAI. The bill outlines the establishment of the Authority, with nominees from these regulatory bodies and the Finance Ministry. The Authority will regulate financial products, services, and institutions in IFSCs, aiming to repatriate financial services currently conducted offshore by Indian entities and align with global financial centres like London and Singapore.