July 13, 2023
Bank of India (BoI) has opened a new branch in Gift City, Gujarat, with the aim of generating $1 billion in business by March 2024. The branch, which is located in the International Financial Services Centre (IFSC) in Gift City, will offer a range of banking services to domestic and international clients.
BoI is the first Indian bank to open a branch in Gift City. The bank’s decision to open a branch in the IFSC is a sign of its confidence in the future of the Gujarat region. Gift City is a special economic zone that is designed to attract foreign investment and promote financial services.
The new BoI branch will offer a range of banking services, including corporate banking, investment banking, and treasury services. The branch will also provide support to businesses that are setting up in the IFSC.
BoI is targeting $1 billion in business from its Gift City branch by March 2024. The bank believes that the IFSC has the potential to become a major financial hub in the region. BoI is confident that its new branch will play a key role in the development of the IFSC.
In addition to the business opportunities, the new BoI branch will also provide employment opportunities to the local community. The bank has already hired a team of 50 employees for the branch.
The opening of the BoI branch is a significant development for Gift City. The bank’s presence will help to attract more foreign investment and promote the growth of the IFSC.
Here are some additional details about the new BoI branch:
