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BANKING & FINANCE Payment Systems

HiWiPay Secures In-Principle Approval from IFSCA for Payment Services at GIFT City

Fintech firm HiWiPay has obtained in-principle clearance from the International Financial Services Centres Authority (IFSCA).
This approval allows HiWiPay to launch a wholly owned Payment Services Provider (PSP) subsidiary within GIFT City (GIFT IFSC).
This expansion will aid seamless cross-border transactions and enhance financial services in India's offshore financial hub.

Key Facts / Static GK

GIFT City is situated in Gandhinagar, Gujarat, as India's first operational smart city and international financial services centre.

Practice Quiz — 2 July 2026

Q1. Who has recently assumed charge as the Chairman and Managing Director (CMD) of Hindustan Copper Limited (HCL)?

Q2. The Appointments Committee of the Cabinet (ACC) has approved a one-year tenure extension for which of the following Foreign Secretaries of India?

Q3. Ravi Shankar has been appointed as the Executive Director (ED) of which organization, where he will oversee the Department of Statistics and Information Management (DSIM)?

Q4. Consider the following statements regarding the newly launched Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) [VB-G RAM G] Act, 2025: (1) It replaces the MGNREGA Act, 2005. (2) It guarantees 125 days of wage employment annually per eligible rural household. (3) The Central Government has set the national floor wage under this scheme at 350 rupees per day. Which of the statements given above are correct?

Q5. What was India's gross Goods and Services Tax (GST) revenue collection for the month of June 2026?

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