Indian Overseas Bank has received license from International Financial Services Centres Authority (IFSCA) to set up an IFSC Banking Unit (IBU) i.e., as a Branch at GIFT City (GIFT IFSC), Gujarat.
Earlier, the bank had received approval from Reserve Bank of India (RBI) to setup IFSC IBU at GIFT City, Gujarat.
Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.