Published on August 6, 2015
Mumbai : IndusInd Bank has received approvals to set up an International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City). IndusInd Bank’s International Banking Unit (IBU) will provide the bank access to International financial markets and will allow IndusInd to deliver a complete range of products to its clients with foreign currency funding requirements. The Bank will now be able to actively offer products such as External Commercial Borrowings to its customers an area where it had limited capabilities hitherto.
The Bank through this banking unit 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
Mr. Suhail Chander, Head, Corporate & Commercial Banking, IndusInd Bank said, “The opening of IBU in GIFT city will be yet another milestone in our growth trajectory. This development will benefit us in servicing foreign currency funding requirements which would help us in meeting our objective of being a complete banking partner to our customers with global aspirations.”