Bank of America is the first foreign bank to set up operation in GIFT City situated on the outskirts of Gujarat’s capital Gandhinagar.
American multinational investment bank and financial services company, Bank of America, opened its Global Business Service Centre in India’s first operational International Financial Services Centre (IFSC) situated at Gujarat International Finance-tec City (GIFT City) on Friday.
Bank of America is the first foreign bank to set up operation in GIFT City situated on the outskirts of Gujarat’s capital Gandhinagar. The bank has occupied nearly 1 lakh sqft space for its Global Business Service Centre.
Speaking on the occasion, the bank’s chief operations and technology officer Catherine Bessant said that initially around 500 people would work at the Global Business Service Centre at GIFT City and in the future headcount would be increased up to 1500.
While inaugurating Bank of America’s centre at GIFT City, Gujarat chief minister Vijay Rupani claimed that in the first three months of current fiscal Gujarat could attract over Rs. 18,000 crore worth FDI. He said that the state government has decided to develop an IT park at GIFT City on six lakh sq ft area to make it Asia’s biggest financial technology hub.
Rupani said that fin-tech sector would generate nearly 1 lakh job opportunities in future.