CTBC Bank at GIFT City: First Taiwanese Bank Branch
Why in the news
A Taiwanese lender set up an India presence in the international financial centre, marking a first for banks from Taiwan.
Key facts
- Bank: CTBC Bank of Taiwan.
- Location: GIFT City, Gujarat.
- Regulatory nod: IFSCA.
- Distinction: first Taiwanese bank in GIFT City.
- Purpose: cross-border financial connectivity among India, Taiwan and Asia.
Exam angle
- Regulator that approved it: IFSCA.
- Place to remember: GIFT City in Gujarat.
- Banking static link: foreign banks open branches in an IFSC under IFSCA permission.