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Advances

External Commercial Borrowings (ECB) refer to borrowings raised by eligible resident entities in India from overseas lenders/IFSC Banking Units (IBU) in freely convertible foreign currency. ECBs are governed by the ECB framework issued by the Reserve Bank of India and enable corporates to access international capital markets for financing capital expenditure, refinancing existing borrowings, and other permitted end-use purposes.
    Key Benefits
  • Access to international funding sources.
  • Available in freely convertible foreign currencies.
  • Suitable for capital expenditure, refinancing of existing borrowings, and other permitted end uses.
  • Competitive global interest rates.
  • Minimum Average Maturity Period (MAMP) as prescribed under RBI ECB guidelines.
Buyer’s Credit is a short-term trade finance facility extended to Indian importers by overseas lenders/IFSC Banking sUnits (IBU) for financing the import of goods and services. The facility is backed by a Letter of Credit (LC), Standby Letter of Credit (SBLC), or Bank Guarantee issued by the importer’s bank, governed by the trade credit guidelines of Reserve Bank of India. Our IFSC banking unit at GIFT city extends buyer’s credit against Credit (LC), Standby Letter of Credit (SBLC), or Bank Guarantee issued by our bank or other banks to Indian importers.
    Key Benefits
  • Available to resident importers for financing import transactions.
  • Against LC / SBLC / Bank Guarantee of our bank and other bank.
  • Funding available in major foreign currencies such as USD, EUR, JPY, GBP etc.
  • Competitive interest rates linked to international benchmark rates.
  • Flexible tenure as per RBI Trade Credit guidelines
Reimbursement Authorisation (RA) Finance is a trade finance arrangement wherein an overseas bank/IFSC Banking Units (IBU) provides funding against a reimbursement authorization issued by the Letter of Credit (LC) issuing bank. Based on the reimbursement authority and claim submitted by the negotiating/claiming bank, the reimbursing bank settles the payment under the LC. This facilitates timely settlement of import transactions and enhances liquidity for importers. Our IFSC banking unit at GIFT city extends buyer’s credit against Credit (LC), Standby Letter of Credit (SBLC), or Bank Guarantee issued by our bank or other banks to Indian importers.
Our IFSC banking unit at GIFT city also provides Reimbursement authorisation (RA) financed against reimbursement authorisation issued under LC (Letter of Credit).
    Key Benefits
  • Funding against reimbursement authorization issued under LC.
  • Enables efficient settlement of LC-backed import transactions.
  • Access to foreign currency funding through international banking network.
  • - Quick processing and streamlined settlement mechanism.
  • Available in major foreign currencies such as USD, EUR, JPY, GBP etc.

Foreign Currency Loans / Syndicated Loans / Line of Credit: Our IBU Gift City offers Foreign Currency Loans and participates in primary and secondary syndicated foreign currency loan transactions for eligible borrowers including foreign subsidiaries and joint ventures of Indian companies, as well as entities operating in IFSC. These facilities may be structured as term loans or working capital lines in major foreign currencies and enable borrowers to access large funding requirements through international banking consortiums.

    Key Benefits
  • Participation in primary and secondary syndicated foreign currency loan transactions.
  • Available as term loan or working capital facility.
  • Access to large-scale funding through international banking consortiums.
  • Competitive pricing linked to global benchmark interest rates.
  • Suitable for cross-border financing requirements.

Loan/Overdraft against Customer Deposits is a credit facility extended against deposits maintained with Canara Bank. Under this facility, loans or overdrafts are granted to eligible customers against the lien of deposits placed with Canara Bank branches, including those pledged to the IFSC Banking Unit (IBU) at GIFT City. The facility helps customers meet their short-term funding or business requirements while continuing to earn interest on their underlying deposits. Permitted clients and purposes are as per the applicable IFSCA and RBI guidelines.

    Key Benefits
  • Loan/Overdraft facility available against deposits maintained with Canara Bank branches and pledged to the IFSC Banking Unit (IBU), GIFT City.
  • Facility available in major foreign currencies such as USD, EUR, GBP, JPY etc.
  • Loan can be availed either as Overdraft or Demand Loan, based on customer requirement.
  • Loan amount up to 90% of the deposit value.
  • Lower rate of Interest