FM launched a real-time foreign currency settlement system in GIFT City.

Finance Minister Nirmala Sitharaman on Tuesday inaugurated the foreign currency settlement system at GIFT IFSC, aimed at enabling real-time transactions, improving liquidity management, and strengthening regulatory compliance.

At present, foreign currency transactions typically take 36 to 48 hours to settle.

Speaking at the Global Fintech Fest 2025, Sitharaman said the launch positions GIFT City among a select group of global financial centres including Hong Kong, Tokyo, and Manila that possess the infrastructure to settle foreign currency transactions locally.

Sitharaman further said fintech has democratised finance in India.

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Nirmala Sitharaman On Foreign Currency Settlement

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