Back to home

About Us

About CBIBU

Expanding Canara Bank's Global Footprint Through IFSC Banking

  • Canara Bank IFSC Banking Unit (CBIBU) commenced its operations in September, 2023 and it is striving to cater to the global banking requirements of the Corporates and business units situated in India and abroad. Abided by the regulator IFSC Authority, CBIBU is committed to meet its international business standards ensuring compliance. With a legacy dating back to 1906, Canara Bank looks forward to make a mark at the IFSC GIFT City also. CBIBU is having the advantage of both being situated in India providing benefit of the time zone window for its counterparts located globally with competitive pricing and quick processing time from experienced personnel.
  1. Deposit Products –
    1. Current and Savings Account for Retail and Corporates
    2. Term deposits for Retail and Corporates
  2. Advance/Loan Products –
    1. ECB Funding
    2. Buyers Credit
    3. RA Finance
    4. Foreign Currency Loans
    5. Loan Against Deposits
  3. Treasury Products –
    1. We provide Derivatives (Forwards, Swap) and best currency exchange rates.
    2. Bullion Trading - The Bank is in process of becoming an authorized service provider for IIBX operations to facilitate customer participation in bullion trading through IIBX (India International Bullion Exchange).
About IFSC GIFT SEZ

Located in India's Premier Global Financial Centre

The Gujarat International Finance Tec-City (GIFT City) is India's first International Financial Services Centre (IFSC) set up for financial institutions to conduct overseas business that is currently carried out by their offices in other countries. IFSC Unit for a financial institution or a bank is treated as "Non-Resident" under the Indian Exchange Control Regulations and is akin to a foreign territory. The transactions conducted there are permitted only in foreign currency and not in INR. The scope of financial services includes banking, capital markets, insurance, global treasury centres and fintechs, to name a few.

GIFT City was envisioned during the Vibrant Gujarat Global Investor Summit of 2007. It is an integrated development on 886 acres of land which includes residential apartments, offices, schools, hospitals, hotels, clubs, retail and various recreational facilities, which makes this City a truly "Walk to Work" City. This city is located on the bank of river Sabarmati connecting the business capital Ahmedabad and the Political capital Gandhinagar of Gujarat State. The Growth Engine of India. GIFT City is a new Financial and Technology Gateway of India.

GIFT City is envisaged to facilitate the delivery of a wide range of cross-border financial services to clients in other countries. The target business segments include offshore banking, capital markets, offshore asset management, offshore insurance, IT services, IT-enabled services/business process outsourcing services, high-end processing, and other ancillary services.

International exchanges including bullion exchange will help in the price discovery of currencies, equities, commodities, etc. GIFT City will help bring back a significant part of Indian financial services which are operated in other jurisdictions, thus bringing in talent and to some extent reducing brain drain and contributing to India's journey to becoming USD 5 trillion economy.