HSBC is one of the earliest global financial institutions setting up a branch at India’s GIFT City and the first bank to get licence from the newly set up International Financial Services Centres Authority (IFSCA).
HSBC’s IBU branch at Gujarat International Finance Tec City (GIFT City) will be operational for customer transactions with effect from 27 January 2021.
The government of India has envisaged IFSCA as a hub to bring offshore financial transactions onshore. The presence of HSBC has further strengthened the IFSC ecosystem of India.
