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IndusInd Bank Launches Dedicated GCC Banking

28 Sep

Summary

New vertical integrates digital banking and employee services.
India's GCC ecosystem grew 32% since FY2021, now has 2,117 centers.
Services cater to evolving and nuanced banking needs of GCCs.

IndusInd Bank has introduced a specialized Global Capability Centre (GCC) Banking vertical, designed to provide an integrated approach for GCCs. This new division consolidates five crucial services: digital banking, employee banking, commercial card solutions, capital account and FEMA solutions, and foreign-currency accounts. These offerings are facilitated through the bank's International Banking Unit in GIFT City.

India's GCC sector has demonstrated substantial growth, expanding by 32% since FY2021. The ecosystem now comprises 2,117 GCCs, highlighting India's prominence as a global hub for such operations. This expansion signifies increasingly sophisticated banking demands from these centers.

Niraj Shah, Country Head - Corporate Banking at IndusInd Bank, noted that GCCs are evolving beyond traditional shared services. They are increasingly taking on strategic functions like technology, engineering, analytics, and finance for global organizations. IndusInd Bank's new vertical aims to support these evolving needs with tailored banking solutions and specialist guidance specific to India.

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