Banking
IFSC Banking Unit (IBU)
IFSC Banking Units, global administrative offices and MDBs
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 IFSC Banking Unit (IBU)
0 entities on the IFSCA register. Live data from the IFSCA directory.
| Entity | Sub-category | Registration | Validity |
|---|---|---|---|
| No entities on the register for this category yet. | |||
Timeline & approach
How we take IFSC Banking Unit (IBU) from plan to authorisation
Step 1
Eligibility & structure
Week 1
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
Weeks 2–4
Unit application to the Development Commissioner, Letter of Approval, office space lease and NDC/customs registrations.
Step 3
IFSCA application
Weeks 3–8
Application, business plan, policies (AML/CFT, risk, outsourcing, cyber), KMP profiles and query resolution until in-principle approval.
Step 4
Go-live & compliance calendar
Weeks 8–14
Bank account, systems, statutory registrations, commencement intimation and handover to a live obligation calendar in your Gateway portal.
Indicative cost
Advisory engagement from USD 15,000 (licence to go-live)
Depends on parent bank jurisdiction, product scope and whether retail activity is sought. Regulator and SEZ fees are at actuals.
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 IFSC Banking Unit (IBU)
Share your plan and we respond with the eligibility read, the document list, the indicative timeline and a fee.
- • 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