Nitin Patel asks RBI to clear three proposals of Gujarat govt

Gandhinagar: Speaking at IFSC session in Vibrant Gujarat Summit, Deputy Chief Minister of Gujarat Shri Nitin Patel asked Reserve Bank of India(RBI) Governor Urjit Patel to consider three proposals that are already before RBI.

Nitin Patel said a proposal to permit five Indian bank branches in IFSC is pending before RBI which should be cleared soon. He also sought nod for 22-hour work schedule for international exchange at GIFT City.

MoS Finance Arjun Ram Meghwal in his speech said the Prime Minister has given target of 30 crore employment in 20 years through GIFT City IFSC. He said the PM has also given target of GIFT City IFSC to emerge as price-setter in next ten years.

Meghwal said 84 trading members of BSE have recieved approval to set up facility at GIFT IFSC.

During the MoUs signing part of the session, NSE signed MoU for setting up international exchange and international clearing corporation with an investment of around Rs 500 crore. MCS signed MoU for full fledged business continuing facility. Bombay Stock Exchange signed Rs 500 crore MoU for clearing corporation and stock exchange. Union Bank of India signed Rs 5600 crore MoU for bank finance to various sectors in branch network in Gujarat. State Bank of India signed Rs 20,000 crore MoU for credit flow under priority and non-priority sector advances. NABARD signed Rs 30,000 crore MoU for rural financial institutions and state govt.

DeshGujarat