Articles tagged under: GIFT

London based Standard Chartered to start operations at GIFT city shortly, will become first foreign bank at the IFSC

July 18, 2019
London based Standard Chartered to start operations at GIFT city shortly, will become first foreign bank at the IFSC

Gandhinagar: London based leading international bank, Standard Chartered, will shortly become the first foreign bank to launch operations at International Financial Services Centre (IFSC) located in Gujarat International Finance Tec – City (GIFT City). A press release by the first Indian IFSC situated near capital Gandhinagar today said that Standard Chartered has received in- principle regulatory approvals to set up its IFSC Banking Unit (IBU) in GIFT IFSC. The proposed commenc...Read More

No decision on purchase of IL&FS stake in GIFT: Gujarat govt

July 11, 2019
No decision on purchase of IL&FS stake in GIFT: Gujarat govt

Gandhinagar: The Government of Gujarat in its reply in the assembly today said it has taken no decision on purchasing fifty percent stake of Gujarat International Finance Tech City Ltd (GIFT) from IL&FS. The government in its reply said that GIFT is 50:50 joint venture of Gujarat Urban Development Company Ltd(GUDCL) and Infrastructure Leasing and Financial Services Ltd (IL&FS). Matter of purchase of IL&FS stake is being thought about and there has been no decision in this regard. DeshGuj...Read More

IFSC at GIFT City Gujarat receives Third-Country Central Counter party recognition from Bank of England

July 05, 2019
IFSC at GIFT City Gujarat receives Third-Country Central Counter party recognition from Bank of England

Gandhinagar: India International Clearing Corporation (IFSC) Limited (India ICC), the first clearing corporation in GIFT City, IFSC and a wholly owned subsidiary of BSE Limited (BSE), has been granted recognition by Bank of England as a third- country CCP that will offer clearing services and activities in the United Kingdom (UK) under the Temporary Recognition Regime (TRR) of the Central Counterparties (Amendments, etc., and Transitional Provision) (EU Exit) Regulations 2018, if the UK leaves t...Read More

GIFT City appoints former Corporate Affairs Secretary Tapan Ray as its Managing Director

June 10, 2019
GIFT City appoints former Corporate Affairs Secretary Tapan Ray as its Managing Director

Gandhinagar: GIFT City, India's first international financial services center and operational Smart City, has appointed former Corporate affairs Secretary and Gujarat cadre IAS Officer, Mr. Tapan Ray as its next Managing Director. With a career spanning more than three decades, Mr. Ray has held several key positions in the Ministries of Defence, Textiles, Power, Science &Technology, and Planning in the Government of India. He has also served as Principal Secretary, Finance Department, Go...Read More

Axis Trustee becomes first trustee to start operations in GIFT IFSC

June 04, 2019
Axis Trustee becomes first trustee to start operations in GIFT IFSC

Gandhinagar :In yet another 'first' for GIFT City - India’s first operational International Financial Services Centre (IFSC) near here; Axis Trustee Services Limited (promoted by Axis Bank) became the first trustee to start operations at GIFT IFSC. Axis Trustee will provide Facility Agency services to IFSC banking units for their ECB transactions and trusteeship services to Alternate Investment Funds. It may also offer Escrow Agency services for cross border M&A transactions. It will comple...Read More

Cybage inaugurates its 300 seater office in GIFT City, Gujarat

May 14, 2019
Cybage inaugurates its 300 seater office in GIFT City, Gujarat

Gandhinagar: Cybage, which is into technology consulting and product engineering, has announced the establishment of its latest state-of-the-art facility in Gujarat at GIFT City, Gandhinagar - India’s first operational smart city in Ahmedabad. The announcement comes in the wake of Pune-headquartered Cybage’s ongoing global expansion drive, one of the top priorities of FY 2019-2020. The facility was inaugurated by Arun Nathani, CEO and Managing Director, Cybage and Jaikrishnan K, SVP - Op...Read More

GIFT city and Bloomberg announce collaboration to advance India’s first IFSC to global investors

December 07, 2018
GIFT city and Bloomberg announce collaboration to advance India’s first IFSC to global investors

Gandhinagar:Gujarat International Finance Tec-City (GIFT City) situated near here and Bloomberg, the global business and financial information and news leader, today announced a broad collaborative effort to advance this India’s first international financial services center (IFSC) to Global investors. Starting this month, Bloomberg will offer assistance and global expertise to GIFT IFSC, in support of its capital markets business. This will include collaborating on the design of a cond...Read More

GIFT City Gujarat based BSE India INX daily turnover volume peaks at all time high of INR 8,112.58 crores

September 25, 2018
GIFT City Gujarat based BSE India INX daily turnover volume peaks at all time high of INR 8,112.58 crores

GIFT City Gandhinagar: The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) has achieved a major milestone on September 24th, 2018 when the daily trading turnover (volume) of its Derivatives segment crossed an approx. Rupees 8112.58 crores (USD 1.12 billion). Trading volume on the BSE’s India International Exchange has been growin...Read More

Bengaluru based multinational real-estate company SOBHA Ltd forays into Gujarat, will build around 1000 housing units in GIFT city with over Rs 500 crore investment

April 16, 2018
Bengaluru based multinational real-estate company SOBHA Ltd forays into Gujarat, will build around 1000 housing units in GIFT city with over Rs 500 crore investment

Gandhinagar/Bengaluru: Bengaluru based Indian multinational Real estate developer SOBHA Limited, has forayed into Gujarat market with an Investment of over Rs 500 crore towards residential development in Gujarat International Finance Tec-City (GIFT City), India’s 1st Operational Smart City and International Financial Services Centre (IFSC). With a total built up area of 1.3 million square feet, the company will develop close to 1000 housing units in the fully-integrated city built ...Read More

BSE’s GIFT City based India INX daily turnover crosses Rs 3257 crores (USD 500 million)

April 10, 2018
BSE’s GIFT City based India INX daily turnover crosses Rs 3257 crores (USD 500 million)

Mumbai: The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) has achieved a major milestone on April 9th, 2018 when the daily trading turnover of its Derivatives segment crossed an approx. Rupees 3,257 crores (USD 500 million). The India INX Futures are currently available on the SENSEX, SENSEX 50, Gold, Silver, Gold KG, Brent Cru...Read More