Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » ICICI Bank signs MoU with GIFT SEZ
    Banking

    ICICI Bank signs MoU with GIFT SEZ

    Both the entities will jointly work towards attracting global investors and capital market firms to set up operations in GIFT SEZ.
    April 13, 20222 Mins ReadBy editor
    Twitter LinkedIn WhatsApp

    Private lender, ICICI Bank and GIFT SEZ have signed a Memorandum of Understanding (MoU) to promote GIFT SEZ to Indian as well as global businesses including IT/ITeS and financial services. GIFT SEZ is the country’s first International Financial Services Centre (IFSC) which is being developed as a global financial services hub.

    The bank said it has been a prominent player in GIFT SEZ with its banking business since 2016.

    GIFT City, promoter of GIFT SEZ, provides a planned business district that offers an ecosystem to financial and technology service providers with walk-to-work concept, state-of-the-art infrastructure, tax benefits, various incentives, unified regulator and competitive regulatory regime. 

    Both the entities will jointly work towards attracting global investors and capital market firms to set up operations in GIFT SEZ. They will also promote GIFT SEZ among Indian and Foreign MNCs as the preferred location for availing cross-border trade finance. The bank in a statement added, it aims to  promote development of GIFT SEZ as fintech hub of India and will make concerted efforts to support start-ups and fintech firms.

    .Vishakha Mulye, Executive Director, ICICI Bank said, “Over the years, India has emerged as a preferred destination for foreign investment. The young demographic profile, strong consumer demand and supportive Government initiatives have boosted India’s economic outlook significantly. GIFT SEZ will play an important role and become a gateway for Indian businesses to connect with the world and global businesses to participate in fast growing Indian economy.”

    Mulye added, “At ICICI Bank, our strategy is to provide 360 degree banking to all our customers and their entire ecosystem. Accordingly, our branch at GIFT SEZ is an integral part of our strategy, providing foreign currency banking solutions across trade, transaction banking, capital markets, treasury and wealth management. We are excited to work with GIFT SEZ and to continue building the entire financial services ecosystem at GIFT SEZ.”

     Tapan Ray, MD & Group CEO, GIFT City said, “With GIFT IFSC making giant strides in recent times, it is imperative to create synergies with leading financial institutions to take the progress forward. This MoU with ICICI Bank will stimulate participation by global financial institutions and further promote GIFT City as a preferred business destination for international financial services and products. ICICI Bank’s early mover advantage in the digital space will also help in attracting fintech companies and help in the development of a fintech hub at GIFT City.”

    GIFT SEZ ICICI Bank
    Previous ArticleFintech Startup, iTribe, raises $1 million in pre-seed funding from Eximius Ventures, Kunal Shah, others
    Next Article PhonePe crosses 100 million transactions a day
    editor

    Related Posts

    AU Small Finance Bank introduces menstrual leaves for women employees

    January 18, 2023

    ICICI Bank launches digital solutions for exporters

    January 7, 2023

    SIDBI partners with M1xchange as financier to provide more liquidity to MSMEs

    December 19, 2022

    AU Small Finance Bank and HDFC Life announce Bancassurance tie-up

    December 19, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.