25-June-2026
Banking
 
RBI allows banks to route FCNR(B) deposits through GIFT City branches
24-Jun-2026

The Reserve Bank of India (RBI) has allowed Indian banks to use their branches in GIFT city to mobilise Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits and offer leverage for such deposits. According to sources, State Bank of India (SBI) is expected to be among the first lenders to launch the offering through its GIFT City branch in Ahmedabad.

News Source:- https://www.financialexpress.com/business/banking-finance-rbi-allows-banks-to-route-fcnrb-deposits-through-gift-city-branches-4274557/?ref=hometop_hp
 
 
 

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