GIFT managers of global funds may have easier rules
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Synopsis
The GIFT regulator believes that the conditions should be relaxed for fund and portfolio managers based in India’s maiden financial services centre. Several fund and financial services houses are betting that Budget announcements would make the rules less rigorous for entities managing global funds from GIFT.
Agencies
Among measures that could help GIFT are letting businesses decide the manpower that should be stationed in GIFT based on the nature and level of work.
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MUMBAI: The unified regulator International Financial Services Centres Authority (IFSCA) is understood to have proposed changes that would make it easier to manage global funds from GIFT City.
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HSBC Inaugurates International Banking Unit At GIFT City
HSBC operates in all of the leading international financial service hubs in the world, and looks forward to the development of GIFT City as a globally competitive international financial centre
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Global financial services major HSBC on Tuesday inaugurated its International Banking Unit (IBU) branch at GIFT City near Gandhinagar city in Gujarat.
HSBC is one of the earliest global financial institutions setting up a branch at India s GIFT City and was the first bank to get a licence from the newly set up International Financial Services Centres Authority (IFSCA), said a release by the company.
HSBC inaugurates international banking unit at GIFT City
HSBC s IBU branch at Gujarat International Finance Tec City (GIFT City) will be operational for customer transactions with effect from January 27. PTI
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Global financial services major HSBC on Tuesday inaugurated its International Banking Unit (IBU) branch at GIFT City near Gandhinagar city in Gujarat. HSBC is one of the earliest global financial institutions setting up a branch at India s GIFT City and was the first bank to get a licence from the newly set up International Financial Services Centres Authority (IFSCA), said a release by the company.
HSBC s IBU branch at Gujarat International Finance Tec City (GIFT City) will be operational for customer transactions with effect from January 27, the release said. Surendra Rosha, Group General Manager and CEO, HSBC India, said, We have been closely partnering the development of GIFT City and are pleased with the
Global financial services major HSBC on Tuesday inaugurated its International Banking Unit (IBU) branch at GIFT City near Gandhinagar city in Gujarat.
HSBC is one of the earliest global financial institutions setting up a branch at India s GIFT City and was the first bank to get a licence from the newly set up International Financial Services Centres Authority (IFSCA), said a release by the company. HSBC s IBU branch at Gujarat International Finance Tec City (GIFT City) will be operational for customer transactions with effect from January 27, the release said. Surendra Rosha, Group General Manager and CEO, HSBC India, said, We have been closely partnering the development of GIFT City and are pleased with the rapid progress it has made, offering a great value proposition to global financial institutions.
HSBC inaugurates IBU branch at GIFT City
January 26, 2021
× The Hongkong and Shanghai Banking Corporation (HSBC) on Tuesday inaugurated its International Banking Unit (IBU) branch at Gujarat International Finance Tec-City (GIFT City).
“HSBC’s IBU branch at GIFT City will be operational for customer transactions with effect from January 27, 2021,” it said in a statement.
HSBC is one of the earliest global financial institutions to set up a GIFT City branch and is the first bank to get a license from the newly set up International Financial Services Centres Authority.
“Our IBU branch at GIFT IFSC complements our domestic business in India and flows with our global financial centres. This would help expand the options available to our customers to seamlessly conduct international business transactions, in particular financing, trade and global markets,” said Surendra Rosha, Group General Manager and CEO, HSBC India, adding that the move reiterates HSBC’s commitment