Current Affairs - Banking - Discussion

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.