Indian Overseas Bank gets RBI nod to set up IFSC banking unit at GIFT City

Indian Overseas Bank has received approval from the Reserve Bank of India to establish an International Financial Services Centre Banking Unit at GIFT City in Gujarat, according to a regulatory filing issued by the bank.

In an intimation submitted under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, Indian Overseas Bank said the permission was granted by the RBI through a letter dated December 29, 2025. The approval allows the public sector lender to set up an IFSC Banking Unit, also known as an IBU, at GIFT City, which is India’s designated international financial services hub.

The bank informed both BSE Limited and the National Stock Exchange of India Limited about the development and requested the exchanges to take the information on record and make it available on their respective websites. The filing was addressed to the Department of Corporate Services at BSE and the Listing Department at the NSE.

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The communication was issued from the bank’s central office and signed by Ram Mohan K, Compliance Officer of Indian Overseas Bank. The bank also provided contact details of its investor relations office as part of the disclosure.

The setting up of an IFSC Banking Unit at GIFT City will enable Indian Overseas Bank to expand its presence in international financial services within the regulatory framework of the IFSC. The development marks an important step in the bank’s efforts to strengthen its operations in specialised financial centres, as outlined in the regulatory intimation.