Punjab & Sind Bank Gets RBI Nod to Set Up IFSC Banking Unit in GIFT City
Punjab & Sind Bank has received approval from the Reserve Bank of India to establish an IFSC Banking Unit (IBU) in GIFT City, Gujarat. The RBI granted permission on January 27, 2026, enabling the bank to further its international banking services.
Setting up an IFSC Banking Unit can lead to increased business opportunities and diversification for the bank, potentially impacting its future financial performance and market presence.
The approval from the Reserve Bank of India to set up an IFSC Banking Unit is a positive development for the bank, indicating growth and expansion opportunities in international financial services.
Punjab & Sind Bank (PSB) has received permission from the Reserve Bank of India (RBI) to establish an IFSC Banking Unit (IBU) in GIFT City, Gujarat. The approval was granted by the RBI via a letter dated January 27, 2026, with reference number DOR. LIC. No. S8074 /23.13.004/2025 -26. This development allows PSB to expand its international banking operations by setting up a unit in India's premier international financial services center.
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Punjab & Sind Bank filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Punjab & Sind Bank. Read the original for the full detail.