Indian Overseas Bank (IOB) has received permission from the Reserve Bank of India to establish an IFSC Banking Unit (IBU) in GIFT City, Gujarat. This move will facilitate the bank in expanding its international operations and catering to offshore banking activities. The permission was granted on December 29, 2025, and the bank is taking necessary steps to set up the unit.
IFSC Banking Unit Establishment
Indian Overseas Bank (IOB) is set to establish an IFSC Banking Unit (IBU) at GIFT City, Gujarat, following the Reserve Bank of India’s (RBI) approval. The permission to set up the IFSC Banking Unit was granted on December 29, 2025.
Strategic Expansion
This initiative will allow Indian Overseas Bank to expand its presence in international banking and provide specialized financial services to its clientele. Establishing an IBU in GIFT City aligns with IOB’s strategy to strengthen its position in the financial sector. The bank is now taking steps to operationalize the new unit.
Source: BSE
