The Asian Development Bank and Standard Chartered Bank have signed agreements to enhance supply chain finance in India. This collaboration establishes risk-sharing arrangements for transactions in both the United States Dollar (USD) and the Indian Rupee (INR).
Decentro has become the first Indian Payment Aggregator (PA) to secure final approval from the International Financial Services Centres Authority (IFSCA) to operate as a Payment Service Provider (PSP). The company will conduct its operations at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat.
Established in 2020, the company plans to launch 4 services under the PSP framework, which include merchant acquisition, virtual account issuance, cross-border money transfers, and escrow services.
Skydo has secured in-principle approval to operate as a Payment Service Provider (PSP) within the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat.
ICICI Bank, in partnership with Visa, has launched India’s first USD-denominated debit card for Non-Resident Indian (NRI) customers.
The card was introduced through the International Financial Services Centre (IFSC) Banking Unit (IBU) located at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat. The card is built on the Visa Infinite platform, which is the highest tier in the Visa network.
CTBC Bank Co Ltd has inaugurated a new branch at the GIFT City in Gandhinagar, Gujarat, becoming the first Taiwanese bank to establish a presence in the International Financial Services Centre (IFSC) of India.
It is to be noted that the bank has been operating in India for 30 years and has existing branches in New Delhi and Chennai.