Essayer OR - Gratuit
GIFT City joins global financial hubs
Mint Kolkata
|October 08, 2025
Union finance minister Nirmala Sitharaman launched the foreign currency settlement system on Tuesday at Gujarat International Finance Tec-City (GIFT City), marking a major step towards enhancing India’s standing as a global financial hub.
Finance minister Nirmala Sitharaman launched the foreign currency settlement system on Tuesday at GIFT City.
(BLOOMBERG)
The system will enable the real-time settlement of foreign currency transactions within GIFT City’s International Financial Services Centre (IFSC), eliminating the delays that can last up to two days under the existing correspondent banking mechanism.
“Transactions in foreign currency by entities in IFSC are today settled through correspondent banking arrangements routed via multiple Nostro banks (foreign banks with which a domestic bank holds an account), often with a lag of up to 36 to 48 hours,” Sitharaman said at the Global Fintech Fest in Mumbai.
Cette histoire est tirée de l'édition October 08, 2025 de Mint Kolkata.
Abonnez-vous à Magzter GOLD pour accéder à des milliers d'histoires premium sélectionnées et à plus de 9 000 magazines et journaux.
Déjà abonné ? Se connecter
PLUS D'HISTOIRES DE Mint Kolkata
Mint Kolkata
Defence sector sees ₹15 tn opportunity on export push
Defence exports were at ₹38,424 cr in FY26, with government targeting ₹50,000 cr by FY29
3 mins
May 01, 2026
Mint Kolkata
InvITs: A HYBRID OPTION OFFERING INCOME STABILITY AND EQUITY-LIKE GROWTH
Your investment portfolio typically comprises instruments placed at different points on the risk-return spectrum, depending on your goals and risk appetite.
3 mins
May 01, 2026
Mint Kolkata
JSW One acquires BuildNext
PO-bound JSW
1 min
May 01, 2026
Mint Kolkata
France's gold move may hold a cue even for India
Its decision to shift gold out of America is prudent given the weaponization of finance by the Trump administration. India should consider it too, besides diversifying its forex reserves
2 mins
May 01, 2026
Mint Kolkata
Listing-shy Tata Sons can't escape RBI's public funds net
A clarification by the Reserve Bank of India (RBI) has undercut Tata Sons’ attempt to distance itself from public funds, potentially retaining it in the upper layer of non-bank financial companies (NBFCs), a category that entails tighter regulation and a mandatory listing requirement.
2 mins
May 01, 2026
Mint Kolkata
IDBI Bank Q4 net profit slips 5%
DBI Bank on Thursday reported a 5% decline in net profit to ₹1,943 crore for the March quarter of FY26.
1 min
May 01, 2026
Mint Kolkata
Renault seeks NCLT nod for rejig
Renault Group India has sought approval from the National Company Law Tribunal (NCLT) for a proposed restructuring of its India operations, as it sharpens its focus on the world’s third-largest car market.
1 min
May 01, 2026
Mint Kolkata
Cleaner growth for Bajaj Fin?
Bajaj Finance continued its streak of consistency in Q4FY26, with the non-banking financial company again delivering over 20% year-on-year growth in assets under management (AUM).
2 mins
May 01, 2026
Mint Kolkata
Subsidy sunset, road tax cast gloom over EV sales
The exit of subsidies and the entry of road taxes across key states threaten a double whammy for electric vehicle (EV) manufacturers, at a time when global energy shocks prompt many buyers to seek cleaner vehicles.
3 mins
May 01, 2026
Mint Kolkata
Big Tech strikes gold with AI, but at a steep cost
While Microsoft, Alphabet, Meta and Amazon ride AI to strong earnings, some investors are still worried about spending.
4 mins
May 01, 2026
Listen
Translate
Change font size