Status: The government has notified the International Financial Services Centres Authority (IFSCA) to develop and regulate financial services, institutions and products in the Gujarat International Financial Tec-city (GIFT). Key measures taken by the IFSCA include the launch of a fintech-focussed framework, grants for startups for their Minimum Viable Product/Proof-of-Concept, and regulatory bridges with other international regulators. At present, there are 3 exchanges including the International Bullion Exchange, 25 banks including 9 foreign banks, 26 aircraft lesser, 80 fund managers, 50 professional service providers and 40 fintech entities in the GIFT city. Key steps taken to push digital transactions include incentives to promote RuPay debit cards and low-value BHIM UPI transactions, advisories to stakeholders to improve payment acceptance infrastructure, digital literacy programmes in rural areas, and media campaigns for public awareness of digital transactions. Consequently, digital transactions have increased by over 400% in the past five years. i ii iii