Indian Overseas Bank Receives RBI Approval for IFSC Banking Unit in GIFT City
Indian Overseas Bank (IOB) has received permission from the Reserve Bank of India (RBI) to establish an IFSC Banking Unit (IBU) in GIFT City, Gujarat. The approval was granted by the RBI via a letter ...
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Why is Indian Overseas Bank in the news today?
Indian Overseas Bank (IOB) is in the news due to the approval from the rbi to set up an ifsc banking unit is a positive development for the bank, indicating regulatory support for its expansion plans.
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Indian Overseas Bank Receives RBI Approval for IFSC Banking Unit in GIFT City
December 29, 2025, 02:55 PM
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More Details on This News
Indian Overseas Bank (IOB) has received permission from the Reserve Bank of India (RBI) to establish an IFSC Banking Unit (IBU) in GIFT City, Gujarat. The approval was granted by the RBI via a letter Ref: DOR. LIC. No. S7403/23.13.004/2025-26 dated 29.12.2025.
This development is a significant step for IOB, allowing it to expand its international banking operations and services through the GIFT City International Financial Services Centre. The bank has formally informed the stock exchanges, BSE Limited and National Stock Exchange of India Ltd, about this regulatory approval as per SEBI (LODR) Regulations, 2015.
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