RSCPL is set to become the first company to get a provisional ship leasing license allowing it to operate from International Financial Services Centre (IFSC). It will start operations in March.
This is the first such license to be issued after the International Financial Services Centres Authority (IFSCA) released the registration procedure for companies under Finance Company Regulations for conducting ship lease transactions in the International Financial Services Centres (IFSCs).
The IFSCA framework guides ship leasing companies in Financial lease, operating lease, and a hybrid lease structure from the Gujarat International Finance Tec-City (GIFT City). This operationalisation will facilitate creating the ecosystem for international maritime clusters as per the global standards.
With this move, the ship leasing should grow at par with financial and aircraft leasing services. It also gives a great opportunity for India to attract more domestic and international shipping companies offering ship leasing and related financial services.