GIFT City

A settlement bank is traditionally responsible for processing trades, dealing with everything from the exchange of payment from buyer to seller and the transfer of securities.

Mkt players aim to stoke flames of direct listing in financial hub

India's top lender is raising the facility for general corporate purposes through its branch at the Gujarat International Finance Tec-City

The US bank will pitch the products to clients in Asia-Pacific and Europe, in addition to providing support for the offerings developed from the Gujarat International Finance Tec-City, or GIFT City

List of banks, asset managers, insurers swells amid growing business opportunities

BS BFSI Summit: As GIFT City gains traction, panellists agreed it is well-positioned to become a key player in international finance, transforming India's role in the global financial landscape

NBFC firm Northern Arc on Thursday said it has secured USD 65 million from global development banks for maiden climate fund through its fund management arm, Northern Arc Investments IFSC Trust. The climate fund gets commitment of USD 50 million from the United States International Development Finance Corporation (DFC) and USD 15 million from OeEB, the official Development Bank of the Republic of Austria, Northern Arc said in a statement. Located in Gujarat International Finance Tec-City (GIFT City), the climate fund will extend debt financing to growth-stage companies operating in sectors such as commercial, industrial, and residential solar energy, energy efficiency, green buildings and materials, e-mobility, and sustainable agriculture, it said. Additionally, it will focus on businesses innovating in the circular economy, water segment and adaptation technologies that seek to reduce environmental impact and promote long-term resilience, it said. The fund aligns with India's broad

The I-T department's scrutiny stems from notices issued to the offshore firms, asserting that their primary motivation for operating from Ireland is to evade taxation on operating lease rentals

In the last four years, large Indian conglomerates like the Reliance Industries, the Adani Group, Dr Reddy's Laboratories (DRL), and Bank of Baroda have established GCCs locally

Global tech firm Cognizant on Monday announced its plans to establish a 'techfin centre' at Gujarat International Finance Tec-City (GIFT City), Gandhinagar. The new facility, set to launch in February 2025, will serve as a strategic hub for delivering advanced technology solutions for clients in the banking, financial services, and insurance (BFSI) industries, the company said in a statement. The centre will initially house 500 associates, with plans to scale up to 2,000 employees over the next three years, it said. Gujarat Chief Minister Bhupendra Patel said Cognizant's new centre in GIFT City reflects the state's ability to attract world-class enterprises and provide a robust environment for innovation and growth. "GIFT City's state-of-the-art infrastructure, business-friendly policies, and strategic location are key drivers in shaping it into a global financial and technology hub. We remain committed to further strengthening this ecosystem, ensuring that GIFT City continues to p

The University of Wollongong (UOW) will be one of the first Australian universities to start courses at GIFT City of Gujarat from November, it said on Tuesday. It will start post-graduate courses with intake of 50 students each in courses including Master of Computing (Data Analytics), Graduate Certificate in Computing, Master of Financial Technology, extended Master of Financial Technology, and Graduate Certificate in Financial Technology, said Executive Director, Global Student Recruitment, UOW, Kath McCollim. It has introduced "inaugural scholarship" offering financial benefits to students enrolling in Computing and Financial Technology programs, he said. UOW India has also partnered with IBM whereby students will gain access to IBM's Innovation Centre for Education (ICE). Gujarat International Finance Tec-City or GIFT City is a business district under development in Gandhinagar district.

The agency force accounts for nearly 80 per cent of the health insurer's overall business

Includes norms for already listed companies to explore the avenue, though subject to norms from other regulators

IndiaFirst Life has become the first Indian life insurer to commence operations in Gujarat International Finance Tec City (GIFT City), the company said in a release on Wednesday. The company inaugurated its IFSC Insurance Office (IIO) at the country's international financial gateway on Wednesday, it said. Speaking on the occasion, Managing Director and CEO, IndiaFirst Life, Rushabh Gandhi, said, "We are delighted to be the first Indian life insurance company to commence operations in GIFT City IFSC. Our IIO will offer foreign currency-denominated life insurance solutions to international customers of our partner banks and our preferred broker partners". IndiaFirst Life's IIO will have a dedicated team involving specialists who will cater to the needs of GIFT City's global audience, said the release, adding that the company offers a specially designed ULIP product for global Indians -- IndiaFirst Life Wealth Wise plan. This US dollar denominated plan is ideal for international ...

The clarification comes in the wake of a recent debate on social media claiming that Indian regulators have stopped allowing local family offices to set up investment funds in its new finance hub

The regulator for Gujarat International Finance ­Tec-­City is halting approvals for family investment funds after feedback from the central bank

Stricter F&O rules could lead a shift in volumes, says NSE CEO

With the changes, these schemes will now enjoy tax exemptions similar to that of category III AIFs set up in the IFSC

The Reserve Bank has significantly enhanced the attractiveness and utility of GIFT IFSC by clarifying the use of LRS for investments and enabling transactions like insurance and education loan payments in foreign currency, said GIFT City MD and group CEO Tapan Ray on Thursday. GIFT city (Gujarat International Finance Tec-City) located in Gandhinagar has been envisaged as an integrated hub for financial and technology services not just for India but for the world. India's maiden International Financial Services Centre (IFSC) has been set up in GIFT City. The Reserve Bank of India (RBI) on Wednesday issued a circular expanding the scope of norms related to remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS). RBI said it has been decided that "authorised persons" may facilitate remittances for all permissible purposes under LRS to IFSCs for availing financial services or financial products as per the International Financial ...