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Standard Chartered received in-principle approval from the International Financial Services Centres Authority on 6 August 2026.
The approval allows it to distribute capital market and wealth management products from GIFT City.
The bank plans to launch its Signature CIO Funds from GIFT City, followed by additional retail wealth products.
Standard Chartered became the first foreign bank to begin operations in GIFT City in 2020.
It currently serves more than 600 corporate and institutional clients from the hub through wholesale banking.
An International Financial Services Centre is a jurisdiction within a country that is treated as offshore for regulatory and currency purposes. Financial institutions operating in an IFSC may offer services in foreign currency and serve cross-border clients from within India, under a regulatory regime separate from the domestic one. The purpose is to bring onshore the business that Indian firms and non-resident Indians would otherwise route through Singapore, Dubai or London. IFSCA is the unified regulator for financial services in India's International Financial Services Centres, combining functions that in the domestic market are split among the RBI, SEBI, IRDAI and PFRDA.
Simple Analogy: An IFSC is like a duty-free zone at an airport — physically inside the country, but operating under a different set of rules designed for international traffic.
Unified regulator for financial services in India's International Financial Services Centres, combining banking, securities, insurance and pension regulatory functions
India's first operational smart city and its International Financial Services Centre, hosting institutions serving cross-border clients in foreign currency
General Awareness > Financial institutions and regulators
Banking Awareness > IFSC, GIFT City and financial sector regulators
General Awareness > Economy and institutions
A jurisdiction within a country treated as offshore for regulatory and currency purposes, allowing services in foreign currency to cross-border clients.
International Financial Services Centres Authority, the unified regulator for financial services in India's IFSCs.
A regulator's preliminary clearance, subject to the applicant meeting specified conditions before final authorisation.
Services covering investment advisory, portfolio construction, capital market products and financial planning.