Policybazaar has launched US dollar-denominated term insurance plans for Non-Resident Indians (NRIs). These products are offered in collaboration with partner insurers and operate out of the International Financial Services Centre (IFSC) in GIFT City, Gujarat.
The Gujarat International Finance Tec-City (GIFT City) has signed an MoU with the Vietnam International Financial Center-Da Nang (VIFC-DN) in New Delhi.
The agreement aims to support the development of the international financial centre of Vietnam, promote cross-border investments, and strengthen financial and business linkages between India and Vietnam.
Gujarat International Finance Tec-City (GIFT City), the International Financial Services Centre (IFSC) of India, has signed two MoUs to enhance its operational and research capabilities.
The first MoU is with Tata Communications Ltd to promote the development of Global Capability Centres (GCCs) and technology-driven businesses within the IFSC. The second MoU is with CEPT University in Gujarat to foster collaboration in research, knowledge exchange, and capacity building.
LEXI Money IFSC Pvt Ltd (LEXI), an AI-powered trade and payments platform, has received in-principle approval from the International Financial Services Centres Authority (IFSCA).
This approval authorizes the platform to operate as a Payment Service Provider (PSP) at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT-IFSC) in Gandhinagar, Gujarat.
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.