The International Financial Services Centres Authority (IFSCA) is incentivising Fund Management Entities (FMEs) to establish Environmental, Social, and Governance (ESG) funds at the GIFT IFSC, in a significant step to promote sustainable finance. To encourage green private capital to be channelised via the fund route, IFSCA has waived the fund filing fees for the first 10 ESG funds filed by Registered FMEs at GIFT IFSC. So far, while one Registered FME, has already availed the said incentive provided by IFSCA by launching an ESG Fund it is observed that awareness regarding ESG Funds and the incentives provided by IFSCA is limited only to the Fund managers.
West Bengal Government Issues Notification for Transit Pass for Timber Movement
Government of West Bengal announced new guidelines regarding the issuance of transit passes for the intra-state movement of round timber and sawn timber.