Indian Banks Expand Dollar Lending Through GIFT City Hub
Indian banks are developing mechanisms to expand dollar lending through GIFT City, an onshore international financial hub designed to attract forex deposits…
AI-processed from Reuters - Wealth & Tax; edited by Phoenix Wealth Intelligence
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Indian banks are developing mechanisms to expand dollar lending through GIFT City, an onshore international financial hub designed to attract forex deposits and compete with traditional offshore centres. This strategic shift aims to retain wealthy investors' capital within India rather than see it flow to Singapore, Dubai, or Mauritius, leveraging new regulatory flexibility in currency operations.
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