Punjab & Sind Bank Gets RBI Nod to Open Branch at GIFT City IFSC

State-owned Punjab & Sind Bank has taken a significant step towards expanding its international footprint after receiving approval from the Reserve Bank of India to open a branch at the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar, Gujarat. 

The move marks the bank’s formal entry into global financial services and international banking operations, aligning with India’s broader ambition of positioning GIFT City as a world-class financial hub.

RBI Approval and Strategic Significance

The approval from the RBI is a landmark development for Punjab & Sind Bank, as it enables the lender to operate from one of India’s most important international financial zones. 

GIFT City IFSC has been designed to facilitate cross-border financial transactions, offshore banking, international trade finance, and capital market activities within a globally competitive regulatory framework. By establishing a presence here, the bank aims to participate more actively in international financial markets.

Strengthening International Banking Capabilities

With the new branch at GIFT City, Punjab & Sind Bank plans to enhance its capabilities in foreign currency lending, trade finance, treasury operations, and international banking services. 

The IFSC platform allows banks to offer services in foreign currencies with greater flexibility, which is expected to help the bank better cater to the evolving needs of corporate and institutional clients engaged in global trade and investment.

Management’s Perspective

Commenting on the development, Managing Director and CEO Swarup Kumar Saha, stated, “The RBI approval to open a branch at GIFT City is a landmark moment for our Bank. This step aligns with our long-term vision of entering the international market and strengthening our participation in global financial markets.”

Alignment with National Priorities

The initiative is also in line with national priorities of financial sector development and global integration. By leveraging the GIFT City ecosystem, Punjab & Sind Bank aims to contribute to India’s ambition of becoming a global financial powerhouse while focusing on sustainable growth, innovation, and value creation for stakeholders.

Punjab & Sind Bank Share Price Performance

On January 30, 2026, Punjab & Sind Bank share price (NSE: PSB) opened at ₹27.39, touching the day’s high at ₹27.60, as of 11:26 AM on the NSE.

Also Read: Punjab & Sind Bank Reported Rising Deposits and CASA in Q3FY26!

Conclusion

The RBI’s approval for Punjab & Sind Bank to open a branch at GIFT City IFSC marks an important milestone in the bank’s growth journey. The move is expected to strengthen its international banking capabilities, expand service offerings, and support India’s push towards becoming a globally integrated financial hub.

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