Indian Overseas Bank (IOB) has received a license from the International Financial Services Centres Authority (IFSCA) to establish an IFSC Banking Unit (IBU) at GIFT IFSC, Gujarat. This significant development follows RBI’s prior permission and marks a crucial step for IOB in expanding its international financial services capabilities. The license is perpetual, subject to IFSCA’s terms and conditions.
IOB Establishes Presence in GIFT IFSC
Indian Overseas Bank (IOB) has officially announced the receipt of a license from the International Financial Services Centres Authority (IFSCA) to establish an IFSC Banking Unit (IBU). This strategic move allows IOB to operate a banking unit within the GIFT IFSC in Gujarat, a key hub for international financial services.
Regulatory Approvals and License Grant
The license grant follows earlier communication, with the Reserve Bank of India (RBI) having previously permitted the Bank for setting up of an IFSC Banking Unit. The crucial IFSCA license was issued on 01.06.2026, enabling IOB to set up its IBU, effectively functioning as a branch at GIFT City (GIFT IFSC).
Perpetual License for Future Growth
The validity of the granted license is perpetual. It is, however, subject to the terms and conditions that may be specified by the IFSCA. This development is a significant milestone for IOB, positioning it to enhance its global financial service offerings.
Disclosure to Stock Exchanges
This information is being disseminated to the National Stock Exchange Ltd and BSE Limited for their records and appropriate action. The disclosure aligns with regulatory requirements and investor information protocols.
Key Details of the Announcement
Reference Number: IRC/58/2026-27
Date of Communication: 02.06.2026
IFSCA License Issuance Date: 01.06.2026
Details of Disclosures:
To BSE Limited:
The General Manager,
Department of Corporate Services,
BSE Limited,
Floor 1, P.J. Towers, Dalal Street,
Mumbai 400 001
BSE SCRIP CODE: 532388
To National Stock Exchange Ltd:
The Vice President,
National Stock Exchange Ltd,
Exchange Plaza, C-1 Block G,
Bandra-Kurla Complex, Bandra (E),
Mumbai – 400 051
NSE SCRIP CODE: IOB
Contact Information for Investor Relations:
Indian Overseas Bank,
Investor Relations Cell, Central Office,
763 Anna Salai, Chennai 600 002
Phone: 044-7172 9791, 2888 9360
Email: [email protected]
Source: BSE
