REC Receives RBI Nod for GIFT City Subsidiary
ECONOMY & POLICY

REC Receives RBI Nod for GIFT City Subsidiary

REC Limited has obtained approval from the Reserve Bank of India (RBI) to establish a subsidiary in Gujarat International Finance Tec-City (GIFT City), bolstering its presence in the financial hub. The RBI's nod signifies a significant milestone for REC as it expands its operations and strengthens its foothold in strategic locations across the country.

The establishment of a subsidiary in GIFT City aligns with REC's strategic objectives of enhancing operational efficiency, accessing new markets, and diversifying its portfolio. GIFT City, India's first operational smart city and international financial services centre, offers REC a conducive environment for growth and innovation in the financial sector.

The RBI's approval underscores REC's robust credentials and compliance with regulatory requirements, further enhancing its reputation as a trusted financial institution. By setting up a subsidiary in GIFT City, REC aims to leverage the city's infrastructure, regulatory framework, and business ecosystem to drive growth and expand its range of financial services offerings.

GIFT City's strategic location, state-of-the-art infrastructure, and conducive business environment make it an attractive destination for financial institutions looking to establish a presence in India's rapidly evolving financial landscape. REC's decision to establish a subsidiary in GIFT City reflects its forward-thinking approach and commitment to capitalising on emerging opportunities in the financial sector.

The establishment of a subsidiary in GIFT City is expected to enhance REC's operational capabilities, facilitate access to international markets, and foster collaborations with global financial institutions. Additionally, it positions REC to play a key role in supporting infrastructure development and financing initiatives in India and beyond.

GIFT City's status as an international financial services centre offers REC a platform to expand its footprint, engage with a diverse range of stakeholders, and contribute to the development of the financial services sector in India. As REC's subsidiary in GIFT City takes shape, it is poised to become a catalyst for innovation, growth, and collaboration in the financial ecosystem.

REC Limited has obtained approval from the Reserve Bank of India (RBI) to establish a subsidiary in Gujarat International Finance Tec-City (GIFT City), bolstering its presence in the financial hub. The RBI's nod signifies a significant milestone for REC as it expands its operations and strengthens its foothold in strategic locations across the country. The establishment of a subsidiary in GIFT City aligns with REC's strategic objectives of enhancing operational efficiency, accessing new markets, and diversifying its portfolio. GIFT City, India's first operational smart city and international financial services centre, offers REC a conducive environment for growth and innovation in the financial sector. The RBI's approval underscores REC's robust credentials and compliance with regulatory requirements, further enhancing its reputation as a trusted financial institution. By setting up a subsidiary in GIFT City, REC aims to leverage the city's infrastructure, regulatory framework, and business ecosystem to drive growth and expand its range of financial services offerings. GIFT City's strategic location, state-of-the-art infrastructure, and conducive business environment make it an attractive destination for financial institutions looking to establish a presence in India's rapidly evolving financial landscape. REC's decision to establish a subsidiary in GIFT City reflects its forward-thinking approach and commitment to capitalising on emerging opportunities in the financial sector. The establishment of a subsidiary in GIFT City is expected to enhance REC's operational capabilities, facilitate access to international markets, and foster collaborations with global financial institutions. Additionally, it positions REC to play a key role in supporting infrastructure development and financing initiatives in India and beyond. GIFT City's status as an international financial services centre offers REC a platform to expand its footprint, engage with a diverse range of stakeholders, and contribute to the development of the financial services sector in India. As REC's subsidiary in GIFT City takes shape, it is poised to become a catalyst for innovation, growth, and collaboration in the financial ecosystem.

Next Story
Infrastructure Energy

Manohar Lal reviews power and urban development progress in J&K

Union Minister of Power and Housing & Urban Affairs, Manohar Lal, conducted a comprehensive review of the power and urban development sectors for the Union Territory of Jammu & Kashmir in Srinagar. The review meeting was attended by Jammu & Kashmir Chief Minister Omar Abdullah, Advisor to the CM Nasir Aslam Wani, the Chief Secretary of the UT, senior officials from the Government of India and the UT administration, as well as representatives from state power utilities and Central Public Sector Enterprises (CPSEs).Key issues concerning the power sector in the UT were discussed durin..

Next Story
Infrastructure Urban

ICG Chairs 137th Offshore Security Meet of OSCC in New Delhi

The Indian Coast Guard chaired the 137th meeting of the Offshore Security Coordination Committee (OSCC) in New Delhi on June 12, 2025, to evaluate the security preparedness and operational effectiveness of offshore installations in the country. The discussions centred on enhancing joint response mechanisms to protect critical energy infrastructure, with a strong focus on improving inter-agency coordination to counter emerging threats and ensure comprehensive offshore security.The Director General of the Indian Coast Guard highlighted the strategic importance of energy security and stressed the..

Next Story
Infrastructure Urban

Piyush Goyal Strengthens India–Sweden Ties via Govt-Industry Talks

Union Minister of Commerce and Industry, Piyush Goyal, engaged in multiple high-level meetings with senior officials of the Swedish government and business leaders during the first day of his official two-day visit to Stockholm. The objective of the visit was to strengthen bilateral economic ties, boost trade and investment flows, and explore collaboration in emerging sectors.As part of his official agenda, Goyal held meetings with Sweden’s Minister for International Development Cooperation and Foreign Trade, and the State Secretary for Foreign Trade. Discussions focused on expanding the Ind..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?