Standard Chartered currently provides lending, trade finance, transaction banking and financial markets services.
| Photo Credit:
Edgar Su
Standard Chartered has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to distribute capital market products from GIFT City, paving the way for the foreign lender to launch its wealth management services in the coming months.The bank, in an official release on Thursday, said the approval will enable it to offer retail wealth management services from GIFT City, expanding its product suite beyond its existing corporate and institutional banking offerings.Standard Chartered, which became the first foreign bank to commence operations in GIFT City in 2020, currently provides lending, trade finance, transaction banking and financial markets services. The bank said it serves more than 600 clients in GIFT City, including multinational companies, domestic corporates, financial institutions and SMEs, and has financed over $25 billion across products.“We see a growing interest in GIFT City as a financial gateway to India. Building on our deep roots in the GIFT City ecosystem, this distribution approval enables us to bring Standard Chartered’s global wealth management capabilities while supporting GIFT City’s ambition to become a leading international financial services centre,” PD Singh, CEO, India and South Asia, Standard Chartered, stated.The bank said it is also a preferred banking partner for regional treasury centres, with around 50 per cent market share, and has undertaken several market-first initiatives in GIFT City, including ODI issuances, foreign portfolio investor transactions, bullion hedging solutions and receivables factoring. It has also expanded its capabilities in corporate treasury management solutions and the Foreign Currency Settlement System while strengthening its on-ground team in GIFT City.Published on August 6, 2026
