Yes Bank has become the first Indian bank to execute an export finance transaction on the International Trade Financing Services Platform (ITFS) of RXIL Global IFSC Limited. This strategic partnership allows arranging credit for exporters and importers from Indian and global institutions through Factoring, Forfaiting, and other trade financing services at competitive pricing with a quick turnaround using a digital platform.
Vijay Shekhar Sharma, CEO of Paytm, discusses the opportunities offered by GIFT City and the IFSCA. GIFT City is a place where global market access and domestic technology combine, allowing for the development of innovative solutions. Sharma mentions the plan to build a technology in GIFT City that addresses the challenge of global cross-border remittances. Additionally, he highlights the importance Vibrant Gujarat summit as a platform for fintech innovation.
A 16-member expert panel appointed by the International Financial Services Centres Authority (IFSCA) last week recommended a special carve-out for mutual funds wanting to invest in Gift City.
India News: Prime Minister Narendra Modi addressed the Infinity Forum 2023 and highlighted the need for sustainable finance to achieve India's net-zero targets by