<h1>Finance minister unveils real-time foreign currency settlement system at IFSC, boosting liquidity, compliance, and fintech safeguards</h1> The finance minister launched a foreign-currency settlement system at a special international financial services centre (IFSC), enabling real-time settlement of FX transactions previously settled with 36-48 hour lag. Legally, the platform strengthens local clearing and liquidity management, aligns the IFSC with other global settlement hubs, and imposes compliance obligations on participants to meet operational and anti-fraud standards. The government signalled an enabling regulatory stance toward fintech and AI, balancing innovation with risk mitigation against misuse (including deepfakes and fraud). The announcement also highlighted fiscal gains from direct benefit transfers, reinforcing administrative accountability in public fund distribution.