Deutsche Bank will set up its IFSC banking unit at India's first global financial centre in Gujarat. The bank has received approval from the GIFT SEZ Authority to set up an IFSC banking unit at India's first International Financial Services Centre (IFSC) at GIFT City, Gujarat, a release said on Thursday. The leading German bank with strong European roots has a global network across 59 countries. This will serve as a primer for renowned banks from other geographies to consider GIFT City a viable destination for international financial services, said Tapan Ray, MD & Group CEO, GIFT City. «Progressive banking regulations in GIFT IFSC provide new business opportunities in several areas for foreign banks such as FPI Business, Non-Deliverable Forwards (NDF), Aircraft leasing- financing, and upcoming framework to enable international bullion exchange operations from GIFT IFSC,» he said. Deutsche Bank is among the largest international banks in India. It had set up its first branch in th Read more