BANK NEWS
IDBI Bank opens IFSC Banking Unit at GIFT City
AHMEDABAD . Public sector lender, IDBI Bank announced opening of its IFSC Banking Unit (IBU) at India's first and only International Financial Services Centre (IFSC) at Gujarat International Finance Tec - City (GIFT) near Gandhinagar.
In a statement issued here, the bank informed that it became the first Public Sector bank to start functions in GIFT-IFSC.
The IFSC Banking Unit (IBU) allows IDBI Bank to deliver a complete range of products to its clients with foreign currency funding requirements. IBU will also be able to meet the funding requirements of overseas entities which may be joint ventures or subsidiaries of its domestic clients or part of the value chain of its existing customers.
Presently IDBI Bank has presence at DIFC, Dubai which is catering to foreign currency and trade related requirements of corporate clients. This is further complemented by opening of IBU at GIFT City. Business Standard
Read Also : Indigenous Technology Cruise Missile successfully flight-tested by DRDO
News Must Read
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024
- SCOPE presents SCOPE PREMIER LEAGUE
- MCL Ib Valley Washery commenced commercial operation
- HAL bags Rs 65,000 Cr tender by Defence Ministry
- PSBs' growth output superseded Private Lending firms
- Northern Coalfields Limited CMD inspects Amlohri Area
- SCOPE organizes Public Sector Day celebrations
- IOCL Final Dividend Announcement Expected at April 30 Board Meeting
- Steel Cutting Ceremony of Indian Navy held at HSL Vishakapatnam
- DIPAM declines PFC-REC debt resolution proposal for KSK Mahanadi project