31 March 2023, New Delhi: National Law University Delhi entered a Memorandum of Understanding (MoU) with International Financial Services Centres Authority (IFSCA) to foster cooperation in areas of financial institutions and regulations. Under the MoU, IFSCA has instituted a PhD Fellowship in IFSCA Regulations to incentivise research in the area of financial regulations at the University. The fellowship shall provide a scholarship amount of Rs 16 lakh per scholar and will be supervised by the Centre for Regulatory Studies (CRS) at National Law University Delhi under the capable guidance of Professor M.S. Sahoo, Distinguished Professor, NLUD & Chairperson, CRS & Dr. Risham Garg, Associate NLUD & Director, CRS.
On the occasion, Professor (Dr.) G.S. Bajpai, Vice Chancellor, NLU Delhi, said, “NLU Delhi has closely worked with, and continues to work with ministries, government departments and agencies and thus have played a vital role in policy-making. Thus, I believe we are well placed to forge this new association with IFSCA.”
“At NLU Delhi our focus has been towards developing inter-disciplinary courses in areas other than traditional law subjects. Thus, I feel there is immense scope to find synergies with IFSCA, including developing research in financial laws & international regulations, arbitration and capacity-building,” Professor Bajpai added.
Speaking on the occasion Mr. Injeti Srinivas, Chairperson, IFSCA said, “India has emerged as the fastest growing economy in the world with a huge demographic dividend. To realise its full potential, amongst others, we need to focus on high quality research and research in the interface of law and regulations, will definitely yield rich results in making GIFT IFSC a reputed as well as preferred international financial jurisdiction, and contribute towards fulfilling our vision of New India.”
Professor (Dr.) Harpreet Kaur, Registrar, NLU Delhi, in her address thanked IFSCA Chairperson, Mr. Srinivas for instituting the new doctoral fellowship and further said, “The fellowship will be a stepping stone in the direction of long-term investment in research in the area of international financial regulations. The able supervision of the fellowship under the Centre for Regulatory Studies will lay the foundation of many such collaborations in the future.”
The MoU was signed in the presence of Professor (Dr.) G.S. Bajpai, Vice Chancellor, NLU Delhi, Professor (Dr.) Harpreet Kaur, Registrar, NLU Delhi, Mr. Injeti Srinivas, Chairperson, IFSCA and Mr. Praveen Trivedi, Executive Director, IFSCA along with the members of NLU Delhi faculty.
About National Law University Delhi
The hallmarks of the National Law University Delhi (NLUD) is quality legal education, research, and public service. The University makes sincere efforts to mainstream research through more than 20 vibrant research centres working on areas such as regulatory studies, access to justice, intellectual property, communication governance, corporate governance, human rights development and criminal justice, commercial laws, etc. It constantly strives to develop an enabling academic and research ambience to promote quality research and scholarship. It has been consistently ranked as India’s 2nd best law university in the NIRF Rankings for the last five years.
International Financial Services Centres Authority (IFSCA) is the unified regulatory authority promoting India as a major destination for the investors and developing it as a truly global financial centre. IFSCA has strived to develop financial institutions, products and services since its establishment in the year 2020. Apart from providing a global financial platform, it provides easy access to the Indian economy, which is amongst the largest and fastest growing economies in the world, and connects 30 Mn strong Indian diaspora globally to India through the IFSC. The International Financial Services Centre Authority (IFSCA) has received intent from Australia’s Deakin and Wollongong Universities to set up campus at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. It is also getting many attractive inquiries from reputed educational institutions in the United States and England.