IFSC sector
Banking
IFSC Banking Units (IBUs) are branches of Indian and foreign banks licensed by IFSCA to operate in foreign currency from GIFT IFSC. They sit outside the CRR, SLR and priority-sector requirements that apply onshore, which lets them price cross-border business against global benchmarks. Total banking asset size at GIFT IFSC has crossed USD 111 billion.
IFSC Banking Units operating in foreign currency
Highlights
What stands out
- USD 111 Bn+ total banking asset size (March 2026)
- USD 5.6 Bn+ credit outstanding by global/regional corporate treasury centres
- Indian and global banks including HSBC, Standard Chartered and Bank of America present in the city
- Internet banking services to IBU clients permitted under a reviewed IFSCA framework
Permitted activities
What entities actually do here
- External Commercial Borrowings (ECB) and foreign-currency lending
- Trade finance, factoring and forfaiting
- Derivatives and treasury operations
- Global and regional corporate treasury centres (GRCTC)
- Foreign-currency accounts and remittances for eligible clients
- Custody, escrow and structured finance
Regulation
How it is governed
IFSCA Banking Handbook and related circulars, including the factoring capital-relief and prudential framework and the review of internet banking services for IBU clients.
Compiled from official material published by IFSCA, GIFT City, GIFT Gujarat. Figures carry the period stated by the publishing authority. Always verify current requirements before acting.