Govt appoints Shri Solomon Arokiaraj as Member of IFSCA

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Shri Solomon Arokiaraj IFSCA appointment IFSC Authority Ministry of Finance IFSCA Act 2019 Department of Economic Affairs.

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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Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied