Business Update8 Jul 2026, 01:24 pm
Punjab & Sind Bank Receives IFSCA Licence for GIFT IFSC Unit
AI Summary
Punjab & Sind Bank has received a licence from the International Financial Services Centres Authority (IFSCA) to establish an IFSC Banking Unit at GIFT IFSC, Gandhinagar. This follows RBI's earlier permission granted to the bank for setting up this unit. The licence, granted on July 7th, 2026, allows the bank to operate an IFSC Banking Unit as a branch within the GIFT City.
Key Highlights
- Bank receives licence from IFSCA to set up IFSC Banking Unit.
- Unit will be established at GIFT IFSC, Gandhinagar.
- This is a strategic expansion into international financial services.
- Follows prior approval from the Reserve Bank of India (RBI).
Price Impact
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