Private sector lender RBL Bank has received in-principle approval from RBI to open global financial services centre at GIFT City.
"In this regard,...The RBI vide its letter dated November 30, 2016 has granted in-principle approval for the aforesaid," the bank said in a regulatory filing.
GIFT City, India's first International Financial Services Centre (IFSC) was opened in April 2015.
The regulations governing GIFT City are aimed at creating a vibrant IFSC on the lines of those in Dubai and Singapore and check the flight of trading in rupee and Indian securities to such offshore financial hubs.
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