Punjab & Sind Bank Receives IFSCA License to Establish IFSC Banking Unit at GIFT City
Punjab & Sind Bank has secured a crucial license from the International Financial Services Centres Authority (IFSCA) to establish an International Financial Services Centre (IFSC) Banking Unit. This development solidifies the bank's operational expansion into India's specialized financial zones.The grant of the IFSCA license allows Punjab & Sind Bank to set up its IFSC Banking Unit as a branch located at GIFT IFSC. The IFSCA issued the licensing letter on July 07, 2026.
This facility follows prior regulatory steps, as the bank had already received permission from the Reserve Bank of India (RBI) for setting up an IFSC Banking Unit at GIFT City Gandhinagar. This license allows Punjab & Sind Bank to commence operations in this advanced financial hub.
PSB Stock Price Movement
Shares of Punjab & Sind Bank are edging higher to ₹24.80 as of 1:55 PM today, rising by 0.12% in the live market. The bank's equity continues active trading, with nearly 1.98 million shares exchanged during the ongoing session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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