GIFT IFSC emerges as international banking hub with $52.82 bn FCNR(B) disbursals: Uday Kotak

GIFT IFSC banking units are channeling foreign-currency deposits into financing. These units funded fifty-two billion dollars of FCNR(B) deposits under a swap facility. International Financial Services Centres Authority highlighted strong performance in foreign-currency mobilization. Indian banks also raised eleven billion dollars through bond listings on IFSC exchanges. These developments connect global capital pools with India's financing needs.