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08/07/2026 15:07

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Punjab & Sind Bank gets IFSCA licence to set up IFSC banking unit at GIFT City

Punjab & Sind Bank has received approval from the International Financial Services Centres Authority (IFSCA) to establish an IFSC Banking Unit (IBU) at GIFT IFSC, Gandhinagar.

The development follows the Reserve Bank of India's (RBI) approval granted in January 2026, permitting the bank to set up an IFSC Banking Unit at GIFT City.

The bank said IFSCA, through its letter dated July 7, 2026, has now granted the licence to establish the IFSC Banking Unit as a branch of Punjab & Sind Bank at GIFT IFSC, enabling it to expand its presence in India's international financial services hub.