Central Bank of India will open its IFSC Banking Unit (IBU) at GIFT City in Gujarat in the first week of next month, MD & CEO Kalyan Kumar announced. The bank has already received approvals from both the Reserve Bank of India and the International Financial Services Centres Authority (IFSCA).
The new unit will handle the bank's international banking operations and foreign currency business. Services offered will include foreign currency lending, trade finance, and treasury-related operations—core functions for banks competing in offshore markets.
The move reflects a broader trend: Indian banks are expanding their GIFT City footprint as India's financial system deepens its international reach. GIFT City operates under a separate regulatory regime designed to attract global capital and talent.
