The Gujarat International Finance-Tec City (GIFT City) in Ahmedabad is home to the Deutsche Bank AG’s IFSC Banking Unit (IBU), which was opened by Prime Minister Narendra Modi. The IBU will first offer financial products in the areas of trade finance, fixed income, and currencies, according to Deutsche Bank AG. According to a release, the IBU will offer all authorised international finance products to Deutsche Bank‘s clients in India and abroad. Additionally, it will enable cash pooling and other deposit proposals for Indian and foreign clients within the parameters of the current regulations.
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With its headquarters in Frankfurt, Germany, Deutsche Bank AG is a multinational investment bank and provider of financial services that is dual-listed on the New York Stock Exchange and the Frankfurt Stock Exchange.
The bank has operations in 58 nations, with a major presence in Asia, Europe, and the America. By total assets and market capitalization, Deutsche Bank ranked 63rd and 21st, respectively, in the world as of 2020. It is a part of the DAX stock market index because it is the largest German banking organisation. The Financial Stability Board views this bank as one with systemic importance.
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