IDBI Bank is the first public sector bank to open an international business unit at the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City). Kishor Kharat, MD and CEO of the bank said as part of the bank’s strategy to encash on emerging global opportunities, it has set up IBU at GIFT City and that it is confident that it will significantly enhance its global financing business. The bank is aiming to provide foreign currency funding facility to its Indian clients from GIFT City. The branch will provide full range of corporate banking services and will meet foreign currency funding needs of its vast Indian clientele, Kharat added. IDBI Bank has presence at DIFC, Dubai which is catering to foreign currency and trade related requirements of corporate clients. This is further complemented by opening of IBU at GIFT City.
