Punjab & Sind Bank gets IFSCA licence for GIFT IFSC banking unit

Regulatory Product ApprovalBusiness Updates View source PDF

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Price reaction · full curve 14 horizons · vs prior close

-0.4%1-day move

₹24.75

prior close

₹24.89

base price

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AI summary

Punjab & Sind Bank has received a licence from the International Financial Services Centres Authority (IFSCA) to set up an IFSC Banking Unit at GIFT City, Gandhinagar, as a branch of the bank. This follows RBI's earlier permission granted in January 2026. The licence was formally issued on 7th July 2026.

Likely market impact

Positive for the bank's expansion into international financial services, opening a new revenue avenue. Financial impact is likely gradual.