Reserve Bank of India (RBI) approves Punjab & Sind Bank branch at GIFT City

Exam-focused facts from the 31 January 2026 current affairs briefing.

Key facts

Punjab & Sind Bank has received approval from the Reserve Bank of India (RBI) to open a branch at the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar.
The branch will enable the bank to strengthen its capabilities in foreign currency lending, trade finance, treasury operations, and international banking.
Swarup Kumar Saha, Managing Director and Chief Executive Officer of Punjab & Sind Bank, stated that this move aligns with the bank’s long-term vision of entering the international market and supporting India’s ambition of becoming a global financial powerhouse.