Bank Of India acquires over 6 % stake in CCIL IFSC.

Banking & Finance

The announcement was made by Bank of India's Executive Director (International Operations) Subrat Kumar in GIFT City while speaking at an event to mark the first anniversary of the bank's IFSC Banking Unit in GIFT City. "The acquisition of 6.125 per cent stake in CCIL IFSC for Rs 6.125 crore showcases our strategic commitment towards the growth of GIFT City IFSC and its emergence as a global financial services provider," Kumar said.


      The entity will act as a clearing house and system operator at GIFT City.

      The foreign currency settlement system is expected to help develop the GIFT City ecosystem further by enabling and promoting a greater number of use cases within the IFSC.

     

 

     


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