New Delhi: Central Bank of India on Monday announced the opening of its International Financial Services Centre (IFSC) Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, marking a key step in expanding its global banking footprint.

The IFSC Banking Unit was inaugurated by the bank’s Managing Director and CEO, Kalyan Kumar. The bank said the new unit reflects its commitment to strengthening its international presence and supporting India’s growing role in global financial markets.

Speaking at the inauguration, Kumar said the bank aims to serve the international banking needs of its existing and prospective customers while contributing to the government’s vision of developing GIFT City into a leading global financial hub.

According to the bank, the IBU will function as its offshore banking arm, offering a wide range of foreign currency-based services, including cross-border banking solutions, foreign currency deposits, investment banking, foreign currency loans, trade finance, treasury operations and correspondent banking services for corporates, institutions and eligible customers worldwide. DeshGujarat