US EditionFinance Minister Nirmala Sitharaman Launches Foreign Currency Settlement System in GIFT City
- Finance Minister Nirmala Sitharaman launched a foreign currency settlement system at GIFT City during Global Fintech Fest-2025, allowing real-time transaction settlements and reducing delays of 36 to 48 hours for foreign currency transactions.
- Sitharaman stated that India ranks third globally in fintech companies and handles half of the world's real-time digital transactions.
- The Minister cautioned against the misuse of AI technology, citing her own experience with deepfake videos that mislead the public.
- Sitharaman mentioned that Direct Benefit Transfer has saved the government Rs 4.31 lakh crore by ensuring public funds reach intended beneficiaries, eliminating ghost entities.
14 Articles
14 Articles
FM Sitharaman Launches Foreign Currency Settlement System at GIFT City, Calls for Responsible AI-driven Fintech Growth at GFF 2025
Get latest articles and stories on Business at LatestLY. Union Finance Minister Nirmala Sitharaman announced the launch of the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City) on Tuesday. Business News | FM Sitharaman Launches Foreign Currency Settlement System at GIFT City, Calls for Responsible AI-driven Fintech Growth at GFF 2025.
Times of India
The Economic TimesSitharaman launches foreign currency settlement system in GIFT City
Finance Minister Nirmala Sitharaman launched a foreign currency settlement system in GIFT City to facilitate seamless, real-time transactions, boosting international trade and investment. This new infrastructure positions GIFT IFSC among global financial hubs like Hong Kong and Tokyo, enhancing liquidity and operational resilience for entities within the International Financial Services Centre.
FM Nirmala Sitharaman launches foreign currency settlement system at GIFT IFSC to enable real-time settlements
Finance Minister Nirmala Sitharaman launched the foreign currency settlement system at GIFT IFSC. Speaking at the Global Fintech Fest 2025, she highlighted India’s fintech growth and India's AI Mission worth $1.3 billion
FM Sitharaman launches foreign currency settlement system at GIFT City, calls for responsible AI-driven fintech growth at GFF 2025
MUMBAI: Union Finance Minister Smt. Nirmala Sitharaman announced the launch of the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City) on Tuesday. Speaking at the inaugural speech at Global Fintech Fest (GFF) 2025 in Mumbai, Sitharaman said it is a significant step in India’s journey toward becoming a global financial and fintech hub. The system will allow real-time settlement of foreign currency trans…
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