Current Affairs - Finance - Discussion
Discussion Forum : Finance - Latest Current Affairs (Q.No. 111)
111.
Which organization received RBI approval to establish a subsidiary in GIFT City?
Answer: Option
Explanation:
REC Ltd., a company under the Ministry of Power, recently gained approval from the Reserve Bank of India (RBI) to establish a subsidiary in Gujarat International Finance Tech-City (GIFT City), located in Gandhinagar. This approval, dated May 3, 2024, is significant as it allows REC to expand its operations into a prominent financial hub within India, known for its modern infrastructure and conducive environment for financial services.
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