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Sitharaman unveils forex settlement in GIFT IFSC
The Statesman Bhubaneswar
|October 08, 2025
Union Finance Minister Nirmala Sitharaman launched the foreign currency settlement system in GIFT IFSC, which will facilitate seamless transactions on real-time basis, enhance liquidity management, and ensure compliance.
At the Global Fintech Fest 2025, Sitharaman said with the operationalisation of the foreign currency settlement system, GIFT City joins a select list of financial centres that include Hong Kong, Tokyo, Manila,and some other centres which have the infrastructure to settle foreign currency transactions locally.
Currently foreign currency transactions usually get settled with a lag of 36 to 48 hours.
Denne historien er fra October 08, 2025-utgaven av The Statesman Bhubaneswar.
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FLERE HISTORIER FRA The Statesman Bhubaneswar
The Statesman Bhubaneswar
Sensex, Nifty extend winning streak for 6th day, led by IT stocks
Equity benchmark indices continued their upward momentum for the sixth consecutive session on Thursday, supported mainly by strong buying in IT stocks.
1 mins
October 24, 2025
The Statesman Bhubaneswar
SER to regulate trains to enable upgrade work at Shalimar
The South Eastern Railway has planned a yard remodelling and signalling upgrade at Shalimar.
1 mins
October 24, 2025
The Statesman Bhubaneswar
Bahutule replaces Joshi as Punjab Kings’ new spin bowling coach
IPL 2025 finalists Punjab Kingson Thursday announced the appointment of former India cricketer Sairaj Bahutule as the new spin bowling coach ahead of the 2026 season.
1 mins
October 24, 2025
The Statesman Bhubaneswar
PM Modi to attend 47th ASEAN summit virtually
Prime Minister Narendra Modi will not be travelling to Kuala Lumpur to attend the 47th ASEAN summit. Instead, he will be participating in the summit, as well as the 22nd ASEAN-India Summit on 26 October virtually.
1 mins
October 24, 2025
The Statesman Bhubaneswar
Beaten by police, Congress MP Parambil vows to take legal action
Beaten by Kerala Police while taking part in a protest meeting early this month at his Lok Sabhaconstituency in Vadakara, Congress MP Shafi Parambil on Thursday vowed that his legal fight would continue and that all evidence would be handed overto the Parliament's Privileges Committee.
1 mins
October 24, 2025
The Statesman Bhubaneswar
Path ahead for India’s EVs
The electric vehicle (EV) revolution is no longer a distant dream or just a government target - it’s happening right now and changing how the world moves.
5 mins
October 24, 2025
The Statesman Bhubaneswar
Lighting anti-colonial lamps
Amitav Ghosh, the renowned Indian writer, is visiting Korea this week to receive the 2025 Pak Kyongni Prize, sponsored by the Toji Cultural Foundation.
3 mins
October 24, 2025
The Statesman Bhubaneswar
Palakkad SP seeks Deputy SP’s explanation on his WhatsApp status criticising Prez’s Sabarimala visit
The District Superintendent of Police (SP) Palakkad has on Thursday issued a show-cause notice to the Alathur Deputy Superintendent of Police (Dy SP) R Manoj Kumar over a WhatsApp status update posted by him criticising President Draupadi Murmu’s visit to the Sabarimala temple on Wednesday.
1 mins
October 24, 2025
The Statesman Bhubaneswar
Srijani: A creative dance festival
Payal Dance Troupe, Bally staged its much-awaited creative dance fiesta, Srijani at Bally Rabindra Bhavan under the artistic direction and choreography of Mousumi Bhandari. A team of 103 performers enthralled a full auditorium with a vibrant showcase of Indian creative dance.
1 min
October 24, 2025
The Statesman Bhubaneswar
DAC clears acquisition of ₹79,000 cr worth of military equipment
The Defence Acquisition Council, under the chairmanship of Defence Minister Rajnath Singh, approved various proposals of the armed forces amounting to a total of about Rs 79,000 crore, during a meeting in South Block, here today.
1 min
October 24, 2025
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