Central Bank of India inaugurates its IFSC Banking Unit at GIFT City

The Central Bank of India has inaugurated its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat. The unit was inaugurated by Kalyan Kumar, MD & CEO, marking a significant milestone in the bank’s journey towards building a global banking presence.

The IBU will operate as the bank’s offshore banking arm, transacting in foreign currency and offering a comprehensive suite of international banking services, viz., cross-border banking solutions, foreign currency deposits, investment banking services and foreign currency loan solutions, alongside trade finance, treasury and correspondent banking capabilities to corporates, institutions and eligible customers across the globe.

Speaking on the occasion, the MD&CEO reaffirmed the bank’s commitment to supporting India’s growing integration with global financial markets and to serving the international aspirations of the bank’s existing and prospective customers, thereby aligning with the national vision of developing GIFT City as a leading global financial hub.