Entity setup
Banking
IFSC Banking Units, global administrative offices and MDBs
Choose your sub-category
Sub-categories under Banking
Pick the exact authorisation you are exploring to see the regulation, registered entities and how we execute it.
About this entity type
A very brief overview
Banking in GIFT IFSC is carried out through an IFSC Banking Unit (IBU) — a branch of an Indian or foreign bank permitted to do foreign-currency wholesale banking, ECB/trade finance, treasury and, in permitted cases, retail deposits from non-residents. The parent bank must provide a minimum USD 20 million capital commitment and a board resolution supporting the IBU.
Who it suits: Indian scheduled banks, foreign banks, and multilateral institutions seeking a foreign-currency banking platform in India.
Applicable regulation
IFSCA (Banking) Regulations, 2020
Governs setting up and operation of IFSC Banking Units, permissible activities, capital, liquidity and prudential requirements.
Official sourceIFSCA Banking Handbook (Conduct of Business / Prudential Directions)
Consolidated directions on conduct of business, KYC/AML, exposure limits and reporting applicable to IBUs.
Official source
Registered entities
Entities registered under Banking
45 entities on the IFSCA register. Live data from the IFSCA directory.
| Entity | Sub-category | Registration | Validity |
|---|---|---|---|
| Australia and New Zealand Banking Group Limited | IFSC Banking Unit | 14/IFSCA/IBU/2024-2527 Jun 2024 | Perpetual / Not stated |
| Axis Bank | IFSC Banking Unit | Not published by IFSCA01 Sept 2017 | Perpetual / Not stated |
| Bank of Baroda | IFSC Banking Unit | IBU.09/201717 Mar 2017 | Perpetual / Not stated |
| Bank of India | IFSC Banking Unit | 009/IFSCA/IBU/2022-2328 Dec 2022 | Perpetual / Not stated |
| Bank of Maharashtra IFSC Banking Unit | IFSC Banking Unit | BNK2025IBU081908 May 2025 | Perpetual / Not stated |
| BNP Paribas | IFSC Banking Unit | 008/IFSCA/ IBU/2022-2314 Dec 2022 | Perpetual / Not stated |
| Canara Bank | IFSC Banking Unit | 011/IFSCA/ IBU/2023-2426 May 2023 | Perpetual / Not stated |
| Central Bank of India | IFSC Banking Unit | BNK2026IBU103008 Apr 2026 | Perpetual / Not stated |
| Citi Bank | IFSC Banking Unit | 04/IFSCA/IBU/2021-22/316 Aug 2021 | Perpetual / Not stated |
| Credit Agricole Corporate & Investment Bank | IFSC Banking Unit | BNK2025IBU083712 Jun 2025 | Perpetual / Not stated |
| CTBC Bank Co., Ltd. | IFSC Banking Unit | BNK2026IBU093602 Jan 2026 | Perpetual / Not stated |
| DBS Bank | IFSC Banking Unit | 010/IFSCA/IBU/2023-2426 Apr 2023 | Perpetual / Not stated |
| Deutsche Bank | IFSC Banking Unit | Not published by IFSCA— | Perpetual / Not stated |
| Federal Bank | IFSC Banking Unit | Not published by IFSCA13 Oct 2015 | Perpetual / Not stated |
| First Abu Dhabi Bank PJSC | IFSC Banking Unit | BNK2025IBU086325 Jul 2025 | Perpetual / Not stated |
Timeline & approach
How we take Banking from plan to authorisation
Step 1
Eligibility & structure
We map your activity to the right IFSCA category and sub-category, confirm net worth, KMP and shareholding eligibility, and fix the holding structure.
Step 2
SEZ unit approval
Unit application to the Development Commissioner, Letter of Approval, office space lease and NDC/customs registrations.
Step 3
IFSCA application
Application, business plan, policies (AML/CFT, risk, outsourcing, cyber), KMP profiles and query resolution until in-principle approval.
Step 4
Go-live & compliance calendar
Bank account, systems, statutory registrations, commencement intimation and handover to a live obligation calendar in your Gateway portal.
Scope & commercials
Confirmed in writing after a scope review
We read your structure, activity and regulatory route first, then set out the scope and engagement terms in writing.
Why GIFT City Gateway
Why sponsors pick us for this
Category specialists
We work only on GIFT IFSC mandates — the regulation, the reviewer questions and the SEZ process are our daily work.
One accountable owner
A named Gateway lead runs your application end to end, not a rotating coordinator queue.
Live intelligence
We track every authorised entity in this category, so your structure is benchmarked against real precedents.
Setup to steady state
Registration hands over into a live compliance calendar in your client portal — no gap after go-live.
Next step
Tell us what you need for Banking
Share your plan and we respond with the eligibility read, the document list and the execution approach.
- • Eligibility and net-worth check against the applicable regulation
- • Structure options (branch vs subsidiary, holding jurisdiction)
- • Week-by-week plan across SEZ and IFSCA
- • Fixed-fee proposal with the compliance calendar that follows
Lead details