GIFT City + IFSCA

Key Facts

• Standard Chartered Bank received approval from IFSCA.
• Location: GIFT City, Gandhinagar, Gujarat.
• Approval relates to wealth management products and services.
• GIFT City is India's International Financial Services Centre (IFSC).
• Standard Chartered became the first foreign bank to commence operations at GIFT City in 2020.

Why Important?

GIFT IFSC aims to:

• Attract global financial businesses
• Develop India as an international financial hub
• Provide global financial services from India
• Increase India's financial integration with global markets

Prelims

IFSCA → GIFT IFSC → Gandhinagar, Gujarat