Gujarat International Finance Tec-City, also known as GIFT City, located in Gandhinagar, Gujarat is India’s first operational smart city and hosts India’s first and only International Financial Services Centre (IFSC). It’s a hub for financial and IT companies from around the world, offering an ideal ecosystem for both local and international businesses. The IFSC at GIFT City enables onshore and offshore financial services and its mission is to offer cross-border financial products and services within a competitive tax environment.
The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat. The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India. At present, the GIFT IFSC is the maiden international financial services centre in India.
As the dynamic nature of business in the IFSCs requires a high degree of inter-regulatory coordination within the financial sector, the IFSCA has been established as a unified regulator with a holistic vision in order to promote ease of doing business in IFSC and provide world class regulatory environment. The main objective of the IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.
Access to a wide range of long-term and short-term loans in major freely convertible foreign currencies including USD, EUR, GBP, JPY etc. to meet the funding requirements of the Corporates.
Better management of the funding or investment requirements to fuel the business growth by obtaining any of our extensive lending products.
Products Suite
• External Commercial Borrowing (ECB) in major freely convertible currencies (including USD Euro, GBP, JPY, CHF, AED, INR, etc),
• Loans to Overseas JVs & Subsidiaries of Indian companies
• Structured Rate Loans (SRL)
• Loan against deposits.
• Short-Term Working Capital Loans.
SCB IBU provides our Indian clients with strategic foreign currencies funding for their Import and Export flows at a lower cost.
i. Products
Buyer’s Credit
Credit Bill Negotiation (CBN)
Bank Guarantees/SBLC
RA Finance (FI Trade loan)
ii. Other key Trade Finance Products
• Risk Participation
• Bill Discounting Against Buyers Risk (BDBR)
• Supplier Finance
• Receivables Services
• Trade SRL
• Trade finance transactions in non-USD Currencies (G-10)
FCY Current Account
SCB IBU offers current account proposition in major freely convertible currencies (e.g. USD, GBP, EUR, AED, etc.).
Internet Banking Facility: These accounts can be accessed and operated effortlessly via S2B banking portal (i.e corporate internet banking portal). Manage your businesses more effectively by leveraging Standard Chartered’ s seamless transaction processing capabilities from these accounts.
Interest on current account: SCB IBU offers interest on the current account. To know more about interest rate, email on GIFT.IFSC@sc.com
Dedicated RM team to ensure seamless transaction journey.
Standard Chartered Bank-India offers seamless opening of a Special Non-Resident Rupee Account (SNRR) for INR payroll and other key administrative expenses incurred by GIFT IFSC entities.
Fixed Deposits
Optimise your surplus liquidity and maximise the returns on your funds by placing term deposits (in major freely convertible currencies – USD, GBP, EUR, etc.) with SCB IBU. Term deposits can be booked at differential rates in multiple currencies, tenors and amounts based on your liquidity strategy.
SCB IBU offers attractive interest rates on the fixed deposits. To know more about interest rate, click here
FX, Interest Rate and Credit Derivatives
Clients may avail a wide set of vanilla and structured derivatives across asset classes.
Deliverable Derivatives (Currency, Interest Rate, etc.) – We offer flow and non-flow hedging solutions in permissible deliverable currencies.
Non-deliverable Derivatives (Currency, Interest Rate, etc.) – We offer flow and non-flow customized hedging solution in EM currencies with net settlement in hard currency
Foreign Currency Structured Rate Loans
Clients may avail Loans in specified currencies, with embedded derivatives to either reduce costs or generate borrowing currency from a funding currency with a cheaper cost of funds.
India Market Access products
SCB IBU holds Foreign Portfolio Investor (FPI) license and can help clients access Indian Securities Market by entering into Total Return Swaps, Credit Default Swaps, or Credit Linked Investments/ Notes to provide synthetic exposure to various Indian securities.
Gold Over to Counter (OTC) Derivatives
Indian companies can hedge gold price risk exposure and can efficiently manage price risks through customised OTC derivative solutions offered by SCB IBU.
Customers who wish to provide feedback or send in their complaint may write to us as per the following Escalation Matrix or visit SCB IBU Office at the below mentioned address:
Standard Chartered Bank IFSC Banking Unit, Gift City 301 A,
Brigade International Financial Centre Building No: 14A,
Block 14, Zone 1, Gift City SEZ Gandhinagar- 382 050, Gujarat, India
Escalation Matrix
Level 1:
You may first reach out to the Complaint Redressal Officer (CRO) – Ms. Hetal Rathod at Hetal.Rathod@sc.com
Level 2:
If your concern is not resolved at Level 1, you may escalate it to the Complaint Redressal Appellate Officer (CRAO) – Mr. Anup Kazani at Anup.Kazani@sc.com
Level 3:
Should you remain unsatisfied, you may write to the IBU Head – Mr. Saiju Gandhi at Saiju.Gandhi@sc.com
Time frame: If the complaint has been received in writing, the IBU will endeavour to send an acknowledgement/response within two (2) working days. Once the matter is examined, the IBU endeavours to either send a final response to the Customer or an intimation seeking more time within twenty (20) working days of the receipt of the complaint. The communication of the IBU stance on any matter will be provided to Customers. Complaints that require some time for
