Divya Delhi: The RBI has given the Bank of Maharashtra permission to open its first International Financial Services Center (IFSC) banking unit in Gujarat's GIFT City. The bank will be able to offer more offshore banking services as a result. In addition to providing customers with specialized services, the new location will assist the bank in expanding its global operations. India's first IFSC, GIFT City, wants to establish India as a worldwide financial center by offering top-notch banking services and drawing in capital for fintech, education, and technology. In order to encourage investment and job creation at GIFT City, the government has implemented a number of incentives, such as tax breaks for offshore funds and non-residents moving to the area. Additionally, IFSCs have made it easier for Indian businesses to list on foreign markets, giving tech and startup companies better access to global funding. The goal of these initiatives is to improve India's standing in the international financial system.