GIFT IFSC Emerges as International Banking Hub

Exam-focused facts from the 5 September 2026 current affairs briefing.

Key facts

As of 31 August 2026, 20 IFSC Banking Units (IBUs) at GIFT IFSC sanctioned USD 54.02 billion under the Reserve Bank of India's (RBI) special swap facility for FCNR(B) deposits, with approximately USD 52.82 billion disbursed.
During April to August 2026, IBUs at GIFT IFSC disbursed USD 11.62 billion in External Commercial Borrowings (ECBs).
Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges during April to August 2026.
Monthly ECB disbursements from IBUs increased from USD 1.54 billion in April to USD 3.54 billion in August 2026.
Sanctions under the FCNR(B) swap facility increased from USD 28.60 billion on August 14 to USD 54.02 billion by August 31, 2026.