By THE NEWSMAN OF INDIA.COM| Punjab & Sind Bank has taken a significant stride towards strengthening its presence in international finance with the Reserve Bank of India granting approval to open a branch at the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar, Gujarat.

This development marks the state-owned lender’s strategic entry into global financial services and international banking operations. By establishing its presence in GIFT City, Punjab & Sind Bank aims to tap into emerging opportunities in cross-border banking, trade finance, and offshore financial services, aligning itself with India’s growing role in the global financial landscape.

GIFT City IFSC has been developed as India’s premier international financial hub, offering a world-class ecosystem for financial institutions engaged in international transactions. It provides a conducive regulatory and operational framework for activities such as foreign currency lending, international trade finance, capital market operations, and wealth management services.

With this approval, Punjab & Sind Bank joins the expanding list of Indian and global financial institutions operating from GIFT City. The move is expected to enhance the bank’s capability to serve multinational corporations, exporters, importers, and overseas clients more efficiently, while also facilitating seamless global fund flows.

The bank stated that its entry into GIFT City reflects its commitment to modernising operations and expanding its service portfolio in line with evolving market needs. The new branch will enable Punjab & Sind Bank to offer specialised products and services tailored to international business requirements, strengthening its competitive position in the banking sector.

Industry observers view this development as a positive step towards reinforcing the bank’s long-term growth strategy. As GIFT City continues to emerge as a preferred destination for global finance, Punjab & Sind Bank’s presence in the IFSC is likely to contribute to greater integration with international markets and support India’s vision of becoming a global financial powerhouse.

Through this initiative, Punjab & Sind Bank reaffirms its focus on innovation, global outreach, and customer-centric banking, positioning itself to play a more active role in the country’s expanding international financial ecosystem.