Question
Which bank recently received in-principle approval to
set up an IBU in GIFT City, making it the first UAE-based bank to do so?Solution
Mashreq Bank became the first UAE-based bank to get in-principle approval (IPA) to open an International Financial Services Centre Banking Unit (IBU) in GIFT City, Gujarat. The branch is expected to be operational by Q4 2025, offering services such as foreign currency loans, trade finance, and treasury management. This marks an important development in India-UAE financial cooperation.
What does the Ayurveda Aahara initiative by FSSAI and Ministry of Ayush promote?
Which recent initiative has been credited by Defence Minister Rajnath Singh for contributing to the growth in India's defence production?
Which state government has introduced the first AI-based smart fence project, named ‘Ele-fence’, to reduce human-wildlife conflict?
What is the primary focus of the CGS-NPF scheme launched by the Union Food and Consumer Affairs Minister?
What unique discovery was made in the Western Ghats?
What financial incentives were approved by Raksha Mantri for Service athletes who won medals in the 2023 Asian Games and Asian Para Games?
What was India’s net FDI figure in September 2025?
- The warship ‘Tavasya’ launched by GSL is a part of which defence project?
What is the provisioning requirement during the operational phase for non-CRE infrastructure projects?
- What was the growth rate of NBFC lending in 2024?
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