Bank of Maharashtra receives RBI approval to establish IFSC Banking Unit at GIFT City, Gujarat
The Reserve Bank of India (RBI) has permitted the Bank to establish the unit in accordance with applicable guidelines. Further, the International Financial Services Centres Authority (IFSCA), through its communication (letter no. IFSCA-FMPP0IBUR/3/2025-Banking/2025-26/002) dated May 8, 2025, has granted the necessary license for the establishment of the IBU.
This development aligns with the Bank's strategy to expand its presence in international financial services and to leverage the growing opportunities available in the GIFT IFSC zone.
In the exchange filing, the company shared, 'RBI has permitted the Bank for setting up of an IFSC Banking Unit (IBU) in GIFT IFSC, Gujarat. In this regard, we have to inform you that International Financial Services Centres Authority (IFSCA) vide letter no. IFSCA-FMPP0IBUR/3/2025-Banking/2025-26/002 dated 8th May, 2025 has granted license to Bank to establish IFSC Banking Unit at GIFT IFSC, Gujarat.'
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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