(MENAFN- KNN India)
Deutsche Bank opens IFSC banking unit in Gift City; proposes trade solutions for MSMEs
Ahmedabad, July 30 (KNN) With Deutsche Bank's IFSC Banking Unit set up in Gift City located in Gujarat the German bank has proposed to offer trade finance solutions to MSMEs.
It will enable them to expand beyond borders, said the bank.
The IFSC Banking Unit (IBU) of Deutsche Bank AG was launched on Friday by Prime Minister Narendra Modi.
Deutsche Bank's clients in India and overseas will be provided all approved international financing products.
This will facilitate easy access to innovative solutions that help improve business efficiencies.
It will also facilitate cash pooling and other deposit propositions for Indian and international clients.
'The IBU will help provide our clients in India and overseas with access to the best suite of financial solutions and services that India has to offer,' said Alexander von zur Mühlen, CEO of Deutsche Bank, Asia Pacific and Member of the Management Board.
The GIFT City IBU will enable the bank provide liquidity in INR on a 24*7 basis, to international investors and overseas corporates with exposures in India. (KNN Bureau)
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