A slew of Indian lenders have operations at the IFSC, which helps them operate like a foreign unit, even though located within the geographical limits of India, and gives access to cheaper funds and also provides products for the global needs of Indian corporates.
source https://economictimes.indiatimes.com/industry/banking/finance/banking/standard-chartered-bank-starts-operations-at-ifsc-gift-city/articleshow/76195578.cms
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