Who is launched the IFSC Banking Unit (IBU) of "Deutsche Bank" at Gujarat International Finance-Tec City (GIFT City) in Ahmedabad?

Narendra Modi

Amit Shah

Ram Nath Kovind

Nitin Gadkari

Correct Answer : Narendra Modi

Prime Minister Narendra Modi on Friday(29th July 2022) inaugurated the IFSC Banking Unit (IBU) of Deutsche Bank AG at the Gujarat International Finance-Tec City (GIFT City) in Ahmedabad.

* According to Deutsche Bank AG, the IBU will offer financial products across trade finance, fixed income and currencies in the initial phase.

* The IBU will provide all approved international financing products to Deutsche Bank's clients in India and overseas, said a statement.

* "Deutsche Bank has been in Asia Pacific for 150 years and in India for 42 years, and our presence at Gift City only underscores our strong commitment to this country," said Alexander von zur Muehlen, CEO of Deutsche Bank, Asia Pacific and Member of the Management Board.

* Deutsche Bank’s IBU will also facilitate External Commercial Borrowing (ECB) financing for its prime customers, offer products such as factoring and bank guarantees, all of which is expected to help global clients increase efficiencies across their supply chain and reduce their financing costs..

Source : The Hindu Businessline

Published On : August 2, 2022

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