Comments
ICICI Bank and GIFT SEZ at GIFT City in Gandhinagar, Gujarat, signed a memorandum of understanding (MoU) on Wednesday to promote the special economic zone to Indian as well as global businesses including IT, IT-enabled services and financial services.
“As per the MoU, ICICI Bank and GIFT SEZ will jointly work towards attracting global investors and capital market firms to set up operations in GIFT SEZ,” said a statement.
Further, both organisations will promote GIFT SEZ among Indian and foreign MNCs as the preferred location for access to cross-border trade finance.
“Our branch at GIFT SEZ is an integral part of our strategy, providing foreign currency banking solutions across trade, transaction banking, capital markets, treasury and wealth management. We are excited to work with GIFT SEZ and to continue building the entire financial services ecosystem at GIFT SEZ,” said Vishakha Mulye, Executive Director, ICICI Bank.
“This MoU with ICICI Bank will stimulate participation by global financial institutions and further promote GIFT City as a preferred business destination for international financial services and products. ICICI Bank’s early mover advantage in the digital space will also help in attracting fintech companies and help in the development of a fintech hub at GIFT City,” said Tapan Ray, MD and Group CEO, GIFT City.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.