Standard Chartered to become first foreign bank to set up unit in Gujarat’s GIFT City
19th Jul 2019

UK-based Standard Chartered has received in-principle regulatory approvals to set up its IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). The bank will be the first foreign bank to launch operations at International Financial Services Centre (IFSC). The lender is expected to start operations at IFSC by the end of this year.

Standard Chartered PLC operates through a number of subsidiaries including SCB, one of the leading international banking and financial services company. SCB particularly focuses on the markets of Asia, Africa and the Middle East. Business Division:-Consumer Banking.