The IFSC Banking Unit (IBU) of Deutsche Bank AG is located in Ahmedabad's Gujarat International Finance-Tec City (GIFT City), and Prime Minister Narendra Modi inaugurated it.
According to Deutsche Bank AG, the IBU will first offer financial products in the fields of trade finance, fixed income, and currencies.
The IBU will provide all authorized international finance products to Deutsche Bank's clients in India and internationally, according to a release.
Additionally, within the confines of the current legislation, it will permit cash pooling and other deposit proposals for Indian and overseas clients. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
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KEY POINTS:
- Deutsche Bank's IBU will assist its top clients in obtaining financing from external commercial borrowing (ECB) and will offer products like factoring and bank guarantees, all of which are anticipated to help international clients increase supply chain efficiency and reduce financing costs.
- All asset classes, including stocks, fixed income, commodities, and derivatives, will be served by the securities services offering, which will also aid in boosting investment flows.
- Deutsche Bank plans to offer trade finance solutions to assist MSMEs (micro, small, and medium-sized enterprises) in expanding globally.
- With the help of the GIFT City IBU, the bank would be able to provide liquidity in INR to overseas investors and foreign businesses with exposure to India on a round-the-clock basis.
Information on Deutsche Bank:
Headquarters:
Deutsche Bank AG is a global investment bank and provider of financial services with its headquarters in Frankfurt, Germany. It is dual-listed on the New York Stock Exchange and the Frankfurt Stock Exchange.
Capital and Presence:
The bank operates in 58 different countries, with a strong presence in Asia, Europe, and the Americas. In the world as of 2020, Deutsche Bank was ranked 63rd by total assets and 21st by market capitalization. Because it is the biggest German banking organization, it is a component of the DAX stock market index. This bank is considered to be of systemic importance by the Financial Stability Board.
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