Mumbai, June 29, 2026
Central Bank of India has inaugurated its IFSC Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, marking the 115-year-old lender’s formal entry into offshore international banking.
The unit was inaugurated by MD & CEO Kalyan Kumar at a ceremony that underscored the bank’s ambitions to expand its footprint in global financial markets.
The IBU will function as the bank’s offshore banking arm, dealing exclusively in foreign currency. Its service portfolio covers cross-border banking solutions, foreign currency deposits, investment banking, foreign currency loans, trade finance, treasury operations, and correspondent banking — targeting corporates, institutions, and eligible customers worldwide.
Speaking at the inauguration, Kumar reaffirmed the bank’s commitment to supporting India’s deepening integration with global financial markets and to serving the international aspirations of its existing and prospective customers. He also aligned the move with the national vision of positioning GIFT City as a world-class financial hub.
Founded in 1911 as the first Indian commercial bank wholly owned and managed by Indians, Central Bank of India’s entry into GIFT City represents its latest push to bridge domestic banking capabilities with international demand.
