Societe Generale Opens IFSC Banking Unit at GIFT City
Why in the news
Societe Generale started an IFSC Banking Unit at GIFT City to serve Indian clients.
The unit
- Head: Mihir Baxi, also Director, Corporate Coverage, India.
- Sectors: renewables, roads and transport infrastructure, transmission, data centres, technology and telecom.
- Purpose: structured finance solutions tailored to clients.
GIFT City
- First working IFSC, Gandhinagar, Gujarat.
- Regulator: IFSCA, with liberalised cross-border rules; aims to be a global finance hub.
- Covers banking, insurance, capital markets, funds, forex, bullion.
Exam angle
- IBU: IFSC Banking Unit.
- Regulator: IFSCA.