Federal Bank, one of India’s leading private banks, on Wednesday, said it has crossed the $200-million mark in total business at its IFSC Banking Unit (IBU) in GIFT City here.
The unit offers various financial services such as funded and non-funded facilities to overseas operations of Indian corporates, extending loans to overseas business ventures of Non-Resident Indians, and trade finance solutions to Indian clients, Ganesh Sankaran, Executive Director of Federal Bank said in a statement here.