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FM launches foreign currency settlement system at GIFT City
The Daily Guardian
|October 08, 2025
Union Finance Minister Nirmala Sitharaman announced the launch of the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City) on Tuesday.
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Speaking at the inaugural speech at Global Fintech Fest (GFF) 2025in Mumbai, Sitharaman said itisa significant step in India’s journey toward becoming a global financial and fintech hub.
The system will allow real-time settlement of foreign currency transactions within the International Financial Services Centre (IFSC), reducing the existing lag of up to 48 hours, she added.
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