Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.93)

93. 

The first foreign bank to launch operations at Gujarat International Finance Tec (GIFT)-City.

[A]. DBS Bank
[B]. Deutsche Bank
[C]. Standard Chartered
[D]. Barclays Bank

Answer: Option C

Explanation:

UK- based Standard Chartered will be the first foreign bank to launch operations at International Financial Service Centre (IFSC). The bank has received in-principle regulatory approvals to set up its IFSC Banking Unit (IBU) in Gujarat International Finance Tec-city (GIFT city).Tapan Ray, MD & CEO of GIFT City said that with the presence of Standard Chartered, the IFSC ecosystem will be formidable.

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