UPSC Civil Services Model Paper 4

The Expert Committee has been constituted by the IFSCA with an aim to suggest how to develop international retail business in InternationalFinancial Services Centre (IFSC). Hence statement 1 is correct.
The committee suggests that the IFSC can aim at:
Becoming a gateway to India's growth story for international investors and businesses.
Providing Indian diaspora and individuals from Asia and Africa with a comprehensive range of financial services from the IFSC.
Serving domestic residents availing liberalized remittance scheme.
The Government of India had constituted the IFSCA with Shri I Srinivas as its Chairperson earlier this year to develop and regulate the financial services market in the IFSC in India. Hence statement 2 is correct.
Apart from channelizing India's offshore business to the IFSC located at GIFT City and making it the gateway for India centric international financial services.
The objective is to make it a global hub for international financial services on the lines of London, Hong Kong, Singapore, and Dubai.