Poging GOUD - Vrij
GIFT City joins global financial hubs
Mint Bangalore
|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.
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.
The system will improve liquidity management and operational resilience, while ensuring compliance under the Payment and Settlement Systems (PSS) Act.
Dit verhaal komt uit de October 08, 2025-editie van Mint Bangalore.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Bangalore
Mint Bangalore
India pulls dumping levies on China, others
“India appears to be balancing its industrial and strategic priorities,” said Ajay Srivastava, founder of the Global Trade Research Initiative (GTR), a trade thinktank.
1 mins
October 09, 2025
Mint Bangalore
ReNew in $190-million Sembcorp solar deal
Nasdaq-listed firm is selling assets as part of its capital recycling strategy
2 mins
October 09, 2025
Mint Bangalore
VALUATIONS REVERT TO THE MEAN, BUT THE MEAN IS ALWAYS A MOVING TARGET
In investing, mean reversion is the idea that asset valuation ratios tend to move towards their historical averages over time.
3 mins
October 09, 2025
Mint Bangalore
HOW MODI'S TRIBAL VISION BECAME A NATIONAL MOVEMENT
FROM GUJARAT TO THE NATION
2 mins
October 09, 2025
Mint Bangalore
Cheaper gas would help India reduce emissions
India’s economy must find an optimal path to its net-zero goal. An expected decline in global prices would make gas affordable enough to enlarge its role in carbon reduction
2 mins
October 09, 2025
Mint Bangalore
OTT festive makeover: Storytelling, sentiment and new screen economy
While India gears up for its most glittering season, OTT platforms are quietly working behind the scenes to grab a slice of your festive downtime—with fresh lineups, cultural hooks and family friendly stories designed for living room marathons.
2 mins
October 09, 2025
Mint Bangalore
Adani Group in talks with banks for ₹30,000 cr airport terminal
year through public-private partnerships, according to media reports.
1 mins
October 09, 2025
Mint Bangalore
Daikin to invest ₹1,000 cr in Haryana
A Memorandum of Understanding (MoU) was signed in Osaka, Japan in the presence of the state chief minister Nayab Singh Saini, who along with a high-level delegation is on an official visit to the country from 6 to 8 October.
1 min
October 09, 2025
Mint Bangalore
Rural users central to capacity utilization: Starlink
Elon Musk-owned Starlink on Wednesday said a large part of its capacity will remain underutilized in India if the country's rural users are not brought onto its soon-to-be launched satellite internet services.
1 min
October 09, 2025
Mint Bangalore
Airtel's chief flags regulatory overreach in telecom sector
Telcos face disproportionate regulatory burden compared to other digital players, Vittal said
3 mins
October 09, 2025
Listen
Translate
Change font size