Citi launches its GIFT City-IFSC Branch; Executes pilot transaction for SRF Ltd

Gandhinagar: Citi announced the launch of its branch at Gujarat International Finance Tec-City – International Financial Services Center (GIFT-IFSC). Citi will offer corporate clients long- and short-term financing solutions through the IFSC branch, while providing an international financial banking experience within India Standard Time zone. The branch will offer external commercial borrowings and trade loans, addressing foreign currency funding requirements of multinationals, large local corporates and financial institutions, as well as emerging mid-corporates.

“The opening of our IFSC branch is a critical step in our global strategy as we enhance our offerings for corporate clients. Our IFSC branch will improve client experience and turnaround times,” said Ashu Khullar, CEO, Citi India.

Citi launched its operations by booking the first loan for SRF Limited. Mr Ashish Bharat Ram, MD, SRF Limited expressed his pleasure in being a part of this momentous event with Citi and for their pilot transaction from one of the top Global Financial Centers.

The branch at GIFT-IFSC will bring Citi’s global and Indian clients that have cross-border needs solutions such as structured trade, corporate financing, and acquisition financing.