 "Citibank, citigroup, foreign banks")
Citibank, which is headquartered in the USA and has a strong international presence, on Monday received a license from the IFSC Authority to set up its banking unit at India’s first International Financial Services Centre at GIFT City, Gujarat.
With this, Citibank will become the first US-based bank to set up a branch in GIFT-IFSC. Citibank will be servicing both Indian as well as its global customer base from this IFSC branch.
India’s maiden IFSC at GIFT City has witnessed significant increase in banking sector activity, with the total banking transactions now crossing the $100 billion mark. These transactions include
