The Government of India has established IFSC in Gujarat namely Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. Useful Links. Tapan Ray, MD and Group CEO of GIFT City said portfolio management services will open a new business opportunity at GIFT IFSC and bring in investments from global investors, including NRIs. The International Financial Services Centre (“IFSC”) in the Gujarat International Finance-Tec (“GIFT”) City at Gandhinagar, Gujarat is all set to offer a competitive and collaborative environment to the fund management industry in India.The establishment of the IFSC Authority (“IFSCA”) to act as a single window clearance is likely to boost investor confidence in the GIFT City. Photo Gallery Video Gallery. Email: ibu.gift@kotak.com × Disclaimer. Gandhinagar-based GIFT City, India’s first operational smart city and International Financial Services Centre (IFSC) has cleared a proposal to set up an IFSC Banking Unit. Jaitley also attacked the previous UPA government for being "lethargic" in giving permission to the IFSC. 2nd & 3rd Floor, PRAGYA Tower, Block 15, Zone 1, Road 1C, GIFT SEZ, GIFT City, Gandhinagar, Gujarat - 382 355 + 91-79- 6180-9800 . The first IFSC in India has been set up at GIFT City, Gandhinagar, Gujarat. IFSCA, with an objective to develop a world-class fintech hub at the IFSC located at GIFT-City in Gandhinagar (Gujarat), endeavours to encourage the promotion of fintech initiatives across the spectrum of banking, insurance, securities and fund management, it said. The then Finance Minister Arun Jaitley made it crystal clear the country can have only one IFSC and that will be in GIFT city in 2017 . When this report was presented, the then Gujarat Chief Minister Narendra Modi decided to take advantage of it. the International Financial Services Centre (IFSC - special economic zone) within the GIFT City in Gandhinagar, Gujarat, effective Monday 1 June 2020. HOME | ALL INDIA BANK LIST | LOCATE ANY BRANCH IN INDIA (Select Bank Name - State - District - branch to see Details) | Find Branch Details/Address/MICR Code By IFSC Code | Find IFSC… MICR Code: 380025023. The Centre’s gazette notification, dated April 27, said the IFSC Authority would be based at Gandhinagar, in Prime Minister Narendra Modi’s home-state, where the Gujarat International Finance Tec-City (GIFT) is located, instead of Mumbai, which was a claimant for the status. National Stock Exchange of India Ltd With an IFSC in India, India now competes against global financial hubs like Dubai and Singapore to attract foreign investors who are willing to trade in foreign currencies. International Financial Service Centre (IFSC) is India’s first its kinds of centre that was commissioned at the Gujarat International Financial Tec (GIFT) City, Gandhinagar. Gift City Branch - Bank of India IFSC, address, branch phone number, manager contact number, email address. “The Central Government hereby appoints the 27th of April, 2020 as the date of the establishment of International Financial Services Centres Authority and the head office of that Authority shall at Gandhinagar, Gujarat,” the notification issued by the Union Finance Ministry said. In an attempt to become India's first International Financial Services Centre (IFSC), GIFT City is set to house a second international exchange in Gandhinagar. Contact phone number / numbers - 0. Syndicate Bank - Gandhinagar Gift City is located at Gujarat state, Ghandinagar district, Ghandinagar city and the bank branch's address is [Sabarmati Capital One Gift One Bldg, 1 Floor, Road 5c, Zone 5, Gift City, Ghandinagar, Gujarat, 382355]. Gandhinagar Gift City Branch - Syndicate Bank IFSC, address, branch phone number, manager contact number, email address. GIFT SEZ, GIFT City Gandhinagar F. No. Phone: +91-079 66741200 / 210. 'Mumbai had a natural IFSC eco-system and it can still become an IFSC if Maharashtra govt desires,' Fadnavis added. Area of the city resembles to be 4 sq km. Indian Financial System Code (IFSC). Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them. Long Term Capital Gain (LTCG) waived off. Standard Chartered is the first foreign bank to commence operations in IFSC. The Centre issued a notification on April 27 declaring Gandhinagar in Gujarat as the headquarters of the IFSC Authority, at the Gujarat International Financial-Tech (GIFT) City… By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Prime Minister Narendra Modi’s dream project to make Gujarat International Finance Tech City is … Mumbai: The Securities and Exchange Board of India revised its guidelines n reporting of statement of accounts for entities listing their debt securities in International Financial Services Centre (), in an effort to further streamlines the operations. To counter this unabated export of Indian products to such international financial centres, India has established its own IFSC at GIFT City, Gandhinagar to develop an international financial centre in India, rivalling the likes of Singapore and Hong Kong. GIFT stands for Gujarat International Finance tech City which is under construction in Gandhinagar. Syndicate Bank Gandhinagar Gift City Branch is located in Gandhinagar district of Gujarat state. It is used for electronic payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer … In simple words : GIFT city : It's full form is "Gujarat International Finance Tec-City" . IFSC Code: SYNB0007083, GANDHINAGAR GIFT CITY, SYNDICATE BANK Find IFSC, MICR Codes, Address, All Bank Branches in India, for NEFT, RTGS, ECS Transactions. Tax Holiday (GoG has also exempted stamp duty for entities having registered office in GIFT for capital market activities). Bank of India - Gift City is located at Gujarat state, Gandhinagar district, Gandhinagar city and the bank branch's address is [56 A Gift One Ground Floor 5c Road Zone 5 Gandhinagar 382355]. Poll . Road 1C, Zone 1, GIFT SEZ, Gift City, Gandhinagar, Gujarat – 382355, India. “GIFT SEZ Limited” has been formed by Gujarat International Finance Tec-City Company Limited (GIFTCL) for development of Multi Services SEZ at Gandhinagar with the prime focus on development of IFSC and allied activities in SEZ. IFSCs in India: The first IFSC in India has been set up at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. GIFT is being developed as a global financial and IT Services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centres. GIFT is being developed as a global financial and IT Services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centres. Then why did Gandhinagar get IFSC status? The GIFT SEZ Authority in its nod to a proposal by Hongkong and Shanghai Banking Corporation (HSBC) gave its in-principle approval subject to other regulatory clearances. Minimum Alternate Tax (MAT) reduced from 18.5 % to 9 % in IFSC. Modi had announced at the 2007 Vibrant Gujarat Summit that GIFT City Ahmedabad would be developed as an IFSC and appointed ECADI for its planning and by 2012 plans were ready and work had started, he said. 29/IFSCA/GIC/2020-21 November 18, 2020 CIRCULAR Subject: Global In-House Centres (GIC) in the International Financial Services Centre (IFSC) The International Financial Services Centres Authority (Global In-house Centres) Regulations, 2020 have been notified in the Official Gazette on November 13, 2020. IFSC Authority Controversy: On April 27, the Central Government drafted a notification stating that the IFSC Authority will be headquartered in Gandhinagar, Gujarat (the place where GIFT City … Connect With Us . In IFSC Code BKID0002121, BKID represents Bank Of India and 2121 is Bank Of India Gift City code. Dividend Distribution Tax (DDT) abolished. IFSC. Branch: GANDHINAGAR GIFT CITY Contact: IFSC Code: SYNB0007083 (used for RTGS, IMPS and NEFT transactions) Branch Code: Last six characters of IFSC Code represent Branch code. NEW DELHI| The central government gazette dated 27 April, has declared Gandhinagar in Gujarat the new headquarters for the IFSC Authority instead of Mumbai. Commodity Transaction Tax (CTT) waived off. Use Branch Locator tool here if you know State, City and Branch Name. The Government of India has established IFSC in Gujarat namely Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. GIFT's Master Plan facilitates Multi Services SEZ with International Financial … facilitates Multi Services SEZ with International Financial Services Centre (IFSC) status, Domestic Finance Centre and the associated Social infrastructure. The country’s first IFSC is also built at GIFT City in Gandhinagar. IFSC Code of Syndicate Bank, Gandhinagar Gift City Branch is SYNB0007083. This place is 12 KM from the Ahmedabad International Airport and 8 KM from Gandhinagar. Because all the financial reforms recommended in the report were for the whole of India and not just for Mumbai. An IFSC deliberately provides Indian corporates with easier access to global financial markets. It is a Global Financial Hub. The SEZ Act 2005 allows setting up an IFSC in an SEZ or as an SEZ after approval from the central government. He started building a GIFT city near Gandhinagar as per the infrastructure needs mentioned in the report. 2. GANDHINAGAR: India's first International Financial Services Centre (IFSC) at GIFT City near here became operational today and Finance Minister Arun Jaitley unveiled rules and regulations for this global financial hub. Proceed × Disclaimer. About IFSCA ; Developments; Application Status; Careers; Tenders; Downloads; Contact Us. 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