Govt appoints Shri Solomon Arokiaraj as Member of IFSCA

Notification No. S.O. 3625(E); Dated: 05.08.2025

1. Appointment Announcement

The Ministry of Finance has formally appointed Shri Solomon Arokiaraj, Additional Secretary in the Department of Economic Affairs, as a Member of the International Financial Services Centres Authority (IFSCA). This appointment marks an important addition to the leadership team of IFSCA.

2. Legal Authority for the Appointment

The appointment has been made in exercise of the powers conferred under Section 5(1)(c) of the International Financial Services Centres Authority Act, 2019. This provision enables the Government to designate members to the Authority to ensure effective governance and oversight of international financial services activities.

3. Amendment to Existing Notification

The change has been incorporated as part of an amendment to the principal notification originally issued on July 24, 2020. The updated notification reflects the inclusion of Shri Arokiaraj in the roster of IFSCA Members, thereby strengthening the Authority’s administrative framework.

4. Significance of the Update

This appointment aligns with the Government’s ongoing efforts to reinforce institutional capacity at IFSCA. It is part of a broader series of updates aimed at enhancing regulatory oversight, promoting financial innovation, and supporting India’s position as a competitive hub for global financial services.

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