India Business News: Mumbai: International Financial Services Centres Authority (IFSCA), the regulatory body for the IFSC-GIFT City in Gujarat, has allowed non-banking ent.
In a move aimed at streamlining the process for non-residents and foreign companies, the International Financial Services Centres (IFSC) at Gift City has introduced a simplified procedure for opening bank accounts. Notably, individuals and entities falling under this category will no longer be required to furnish their Permanent Account Number (PAN).
The facility will be operational soon, allowing start-ups and similar businesses to get access to the worldwide market via GIFT IFSC, , nirmala sitharaman, IFSC Gift City
This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch, the lender said in a statement.