Central Bank of India has informed the Exchange about Approval of Reserve Bank of India to setup IFSC Banking Unit (IBU) at Gift City, Gandhinagar, Gujarat.
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Central Bank of India has received approval from the Reserve Bank of India, via letter dated 11th August 2025, to set up an IFSC Banking Unit (IBU) at GIFT City in Gandhinagar, Gujarat. An IFSC Banking Unit allows banks to operate in international financial markets from within India, offering foreign currency loans, trade finance, treasury and risk management products, and enhanced banking solutions to corporate clients with foreign currency needs. The bank stated this is a significant milestone in its growth journey and will help expand its international banking business. The disclosure was made under SEBI's Listing Obligations and Disclosure Requirements (Regulation 30).
This is a positive development for Central Bank of India as it opens a new revenue stream through international banking services, foreign currency lending, and trade finance. It may support long-term growth and diversification, though the immediate impact on the stock price is likely to be modest.