GIFT City IFSC reports over $52.8B mobilised via FCNR(B) swap
GIFT City’s IFSC says its IFSC Banking Units sanctioned over $54 billion under the RBI FCNR(B) swap facility for foreign currency deposits, with around $52.8 billion mobilised.
GIFT City's International Financial Services Centre (IFSC) has emerged as a major hub for foreign currency mobilisation, with IFSC Banking Units (IBUs) sanctioning over $54 billion under the Reserve Bank of India's special swap facility for FCNR(B) deposits, of which around $52.8 billion has been d…