{"id":5936,"date":"2020-07-13T19:48:03","date_gmt":"2020-07-13T19:48:03","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=5936"},"modified":"2020-07-13T19:48:03","modified_gmt":"2020-07-13T19:48:03","slug":"hsbc-gets-nod-to-set-up-ibu-at-gift-city","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=5936","title":{"rendered":"HSBC gets nod to set up IBU at GIFT City"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2022887\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-430.jpg\" alt=\"Our proposed IBU at GIFT IFSC, subject to other regulatory approvals, will complement domestic business in India.\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2022887\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-430.jpg\" alt=\"Our proposed IBU at GIFT IFSC, subject to other regulatory approvals, will complement domestic business in India.\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2022887\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-430.jpg\" alt=\"Our proposed IBU at GIFT IFSC, subject to other regulatory approvals, will complement domestic business in India.\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/1-430.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/1-430-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/1-430-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/1-430-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/1-430-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/1-430-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/1-430-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">Our proposed IBU at GIFT IFSC, subject to other regulatory approvals, will complement domestic business in India.<\/span><\/figure>\n<\/div>\n<p>Hongkong and Shanghai Banking Corporation (HSBC) has got in-principle approval from the GIFT SEZ Authority to set up an IFSC Banking Unit (IBU) at GIFT City, subject to other regulatory approvals.<\/p>\n<p>As per the joint press release issued by the GIFT SEZ Authority and HSBC, the proposed commencement of the IBU marks a significant development in India\u2019s IFSC business, and proves GIFT\u2019s mettle as a globally competitive international financial centre that is at par with other well-established global financial centres across the world.<\/p>\n<p>Surendra Rosha, group general manager and CEO, HSBC India, said: \u201cOur proposed IBU at GIFT IFSC, subject to other regulatory approvals, will complement domestic business in India. This would help expand the options available to our customers to seamlessly conduct international business transactions, in particular financing, trade and global markets.\u201d<\/p>\n<p>Tapan Ray, MD &amp; group CEO, GIFT City, said the government has envisaged GIFT IFSC as a hub to bring offshore financial transactions onshore and the presence of HSBC Bank has further strengthened the IFSC ecosystem of the country.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/hsbc-gets-nod-to-set-up-ibu-at-gift-city\/2022885\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our proposed IBU at GIFT IFSC, subject to other regulatory approvals, will complement domestic business in India. Hongkong and Shanghai Banking Corporation (HSBC) has got in-principle approval from the GIFT SEZ Authority to set up an IFSC Banking Unit (IBU) at GIFT City, subject to other regulatory approvals. As per [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5937,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-5936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/1-430.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5936"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/5937"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}