Sumitomo Mitsubishi Banking Corp to Establish Branch in GIFT City

02 Apr 2024 CW Team

Sumitomo Mitsui Banking Corporation (SMBC), a prominent Japanese bank, has announced plans to establish a branch in Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. This move is poised to strengthen GIFT City's position as a leading financial hub and foster closer ties between India and Japan in the banking sector.

The decision to open a branch in GIFT City underscores SMBC's commitment to expanding its presence in India and tapping into the country's burgeoning financial services market. GIFT City, with its state-of-the-art infrastructure and favourable regulatory environment, offers an ideal platform for international banks like SMBC to operate and grow their business in India.

The establishment of SMBC's branch in GIFT City is expected to enhance the city's attractiveness as a preferred destination for global financial institutions. It will also contribute to GIFT City's efforts to promote international financial services and attract investments from around the world.

The presence of SMBC in GIFT City is likely to facilitate greater collaboration and knowledge exchange between Indian and Japanese financial institutions. This partnership is expected to drive innovation and efficiency in the banking sector, benefiting businesses and consumers alike.

Overall, SMBC's decision to open a branch in GIFT City reflects the city's growing prominence as a financial centre and its appeal to international players seeking to expand their operations in India. It also highlights the potential for deeper economic cooperation between India and Japan in the financial services domain.

Infrastructure Urban

31 Jul 2026

SCLR Extension Nears Completion Linking BKC With Signal-Free Route

The Santacruz-Chembur Link Road (SCLR) extension towards Bandra-Kurla Complex (BKC) via the Mumbai University campus has entered its final stage, bringing motorists closer to a direct, signal-free connection between the Western Express Highway and the city’s commercial district. The elevated connector is being built as an arm from the SCLR alignment and will link the western suburbs with BKC without surface signals. The link is designed to reduce journey times for commuters travelling from the western suburbs to BKC and to improve access to eastern Mumbai. By carrying through traffic above s..

Raiganj MP Seeks Bengal Only Highway Link To Siliguri

Raiganj Member of Parliament Kartik Chandra Paul met Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi to press for a new stretch of national highway in North Dinajpur district. He urged approval for a Bengal-to-Bengal link that would connect National Highways 12 and 27 to allow vehicles bound for Siliguri to avoid the current route through Kishanganj in neighbouring Bihar. He also submitted a proposed alignment of the new road to the ministry for consideration. At present vehicles from Raiganj travel along NH-12 and join NH-27 at Purnia More in Dalkhola, a route that p..

Airport Kilambakkam Metro Line To Be Extended To Chengalpattu

Chennai Metro Rail (CMRL) has invited tenders for two detailed project reports that would extend its rail network to Chengalpattu in the south and extend Corridor-5 to Wimco Nagar in the north as part of a second wave of expansion beyond the operator's corridors under construction. The move signals an acceleration of planning for suburban links and interchange nodes. The larger of the two studies covers a roughly 27km extension from the planned Kilambakkam metro station to Chengalpattu under Corridor-1, Phase I. CMRL floated the tender at an estimated cost of Rs 21.6 mn. The proposed line woul..