Central Bank of India gets RBI nod to set up IFSC Unit at GIFT City

Central Bank of India announced that it has received an approval from Reserve Bank of India (RBI) to setup an IFSC Banking Unit (IBU) in GIFT City, Gandhinagar, Gujarat.

The opening of IBU in Gift City will be significant milestone in banks growth story. This development will benefit the bank to expand its international banking business and provide specialized banking services to its customers.

The IBU will provide the bank to access international financial markets and offer a comprehensive range of products to its corporate clients with foreign currency funding requirements. The bank will offer suite of services including foreign currency loans, trade finance solutions, treasury and risk management products and enhanced convenient banking solutions to its customers.

Central Bank of India is engaged in providing banking and financial services with a wide range of products and services to individuals, commercial enterprises, large corporations, public bodies, and institutional customers.

The bank reported standalone net profit jumped 32.81% to Rs 1,168.69 crore, on a 9.2% rise in total income to Rs 10,374.12 crore in Q1 FY26 over Q1 FY25.

The counter rose 0.84% to settle at Rs 36.18 on the BSE.

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