Gandhinagar: ICICI Bank, a private sector financial institution, announced on Wednesday, the establishment of a branch within the domestic tariff area (DTA) at GIFT City, making it the first private sector bank to do so.

Situated at the World Trade Centre (WTC) in GIFT City, this branch features an ATM equipped with a cash recycler machine (CRM) to facilitate both deposits and withdrawals. ICICI Bank’s objective is to cater to retail customers and provide services to institutions such as schools, hospitals, and businesses located in the DTA area.

The branch inauguration was presided over by Tapan Ray, Managing Director, and Group CEO of GIFT City, with the presence of Rakesh Jha, Executive Director of ICICI Bank.

“The branch offers Special Non-Resident Rupee Account (SNRR) services for business entities registered in IFSC SEZ area. This account provides IFSC entities with seamless INR banking solutions like staff salary, office and administrative expenses of office set-up and, any statutory dues in India. Further, ICICI Bank provides such entities with corporate internet banking platform and InstaBIZ app for transactions and account related inquiries on the move,” said the bank in a official statement.

The branch operates from 9:30 A.M to 3:00 P.M on Monday to Friday and on the first, third, and fifth Saturdays of the month. DeshGujarat