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With which bank has GIFT SEZ (special economic zone) signed an MoU to promote GIFT SEZ to Indian as well as global businesses including IT and financial services?

With which bank has GIFT SEZ (special economic zone) signed an MoU to promote GIFT SEZ to Indian as well as global businesses including IT and financial services? Correct Answer ICICI Bank

The correct answer is ICICI Bank.

Key Points

  • ICICI Bank and GIFT SEZ (special economic zone) have signed an MoU to promote GIFT SEZ to Indian as well as global businesses including IT and financial services.
  • GIFT SEZ is the country's first International Financial Services Centre (IFSC) which is being developed as a global financial services hub.
  • It is situated in Ahamadabad, Gujarat.

Important Points

  • Both of them will jointly work towards attracting global investors and capital market firms to set up operations in GIFT SEZ.
  • They will act in a coordinated manner to promote GIFT SEZ as a hub for wealth management business.
  • Another objective of the MoU is to promote GIFT SEZ as the destination of choice for offering competitive regime for setting up capital markets business among industry stakeholders such as alternate investment fund (AIF), portfolio management services (PMS), broking entities, venture capital, private equity funds and custodians.

  • Further, the bank and GIFT SEZ will collaborate on the preparation of literature and reports to address the requirements of global investors, institutions, and businesses.

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