IndusInd Bank has opened an IFSC banking unit (IBU) at the Gujarat International Finance Tec-City (GIFT) with an aim to meet requirements of offshore banking operations from India. The unit will provide the bank access to international financial markets and will allow it to deliver a complete range of products to clients with foreign currency funding requirements. The bank will now be able to actively offer products such as external commercial borrowings, an area where it previously had limited capabilities. IndusInd Bank corporate and commercial banking head Suhail Chander said the opening of IBU is a significant development in the overall growth of the bank and it helps complete offshore product offerings to corporate clients. This would be a step closer to cater to bank’s customers overseas and will also address the growing demands of such services for Indian corporate in international markets, he said. IndusInd is the sixth bank to open an IBU at GIFT.
