Bank of Maharashtra gains RBI approval for GIFT City unit
Bank of Maharashtra (BSE: MAHABANK) announced today that it has secured permission from the Reserve Bank of India (RBI) to set up an International Financial Services Centre (IFSC) Banking Unit (IBU) at GIFT City, Gandhinagar, Gujarat. The approval was communicated via RBI letter DOR.LIC.No.S7348/23.13.004/2024-25 dated February 13, 2025. This move will allow Bank of Maharashtra to expand its international banking operations and cater to the growing financial activities within the GIFT City economic zone. The announcement was addressed to the General Manager, Department of Corporate Services at BSE Ltd. and the Vice President, Listing Department, National Stock Exchange of India Ltd.
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