Mumbai : Finance Minister Nirmala Sitharaman on Tuesday launched the foreign currency settlement system in GIFT IFSC, which will facilitate seamless transactions on real-time basis, enhance liquidity management, and ensure compliance.Currently foreign currency transactions usually get settled with a lag of 36 to 48 hours.

Smt @nsitharaman launched the Foreign Currency Settlement System (FCSS) of GIFT IFSC during the Global Fintech Fest 2025 ( @GffFintechfest ) in Mumbai, Maharashtra.

The FCSS will serve as a payment system within IFSC, designed to settle transactions in foreign currencies on a… pic.twitter.com/33WuzZyzEI — Nirmala Sitharaman Office (@nsitharamanoffc) October 7, 2025

Speaking at the Global Fintech Fest 2025, the finance minister said with the operationalisation o

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