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GIFT City to Get Real-Time US Dollar Settlement Platform

26 September 20251 min read
BANKING & FINANCEGIFT City to GetReal-Time USDollar SettlementPlatform26 September 2025safalsetu.com

Why in the news

Standard Chartered Bank, CCIL IFSC Ltd and IFSCA are preparing a real-time settlement platform for dollar trades at GIFT City, Gandhinagar, Gujarat, probably from 7 October 2025.

Key facts

  • Trades in US dollars are settled in real time.
  • Standard Chartered alone serves as banking partner.
  • CCIL IFSC Ltd, a subsidiary of Clearing Corporation of India Ltd (CCIL), is payment system operator for the foreign currency settlement system (FCSS).
  • IFSCA supervises it as part of its remit over financial products in international financial services centres.

Exam angle

  • Place: GIFT City, Gandhinagar.
  • Regulator: IFSCA; operator: CCIL IFSC Ltd.
  • Likely start: 7 October 2025.

Test yourself

1. Which entity will act as payment system operator for the GIFT City foreign currency settlement system?

CCIL IFSC Ltd, a CCIL subsidiary, is the PSO.

2. Who is the sole banking partner of the new US dollar settlement platform in GIFT City?

Standard Chartered is named the sole banking partner.

3. Which authority will regulate and supervise the GIFT City dollar settlement platform?

IFSCA will regulate and supervise it.

This topic is part of Daily Current Affairs 25 & 26 September 2025 (15 topics).

All topics of the dayDay quizSeptember 2025

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