Announced Wed, 8 Jul · 13:23 IST
Punjab and Sind Bank gets IFSCA licence for GIFT IFSC banking unit
PSB · price
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Price reaction · full curve 14 horizons · vs prior close
-0.4%1-day move
₹24.75
prior close
₹24.73
base price
In-mkt
timing
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+0.4+0.3+0.3-0.5-0.4+1.0+1.4+0.5-0.4+0.1————
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AI summary
Punjab and Sind Bank has received a licence from the International Financial Services Centres Authority (IFSCA) to set up an IFSC Banking Unit as a branch at GIFT IFSC, Gandhinagar. This follows RBI's earlier permission granted in January 2026. The licence was issued on 7 July 2026. The new unit will enable the bank to offer international banking services from GIFT City, potentially boosting fee income and expanding its global footprint.
Likely market impact
Opens a new international banking branch at GIFT City, adding potential fee-based revenue and global reach for the bank.