State-owned REC Ltd. said on Sunday it has received the RBI's approval to set up a subsidiary in GIFT City, Gujarat. The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services.

Union Home Minister Amit Shah kickstarted his electoral campaign for the Gandhinagar Lok Sabha seat in Gujarat on Friday, invoking the spirit of nationalism and urging BJP workers to mobilize voters for the forthcoming elections.

In a strategic move to bolster India's burgeoning fintech ecosystem, the Government of India and the Asian Development Bank (ADB) have inked a pivotal USD 23 million loan agreement.

The gathering addressed critical issues pertaining to macro financial stability and India's readiness to confront them effectively. Among the key deliberations were ongoing inter-regulatory matters aimed at bolstering the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) to solidify its position as a global financial hub, facilitating foreign capital inflow and financial services for the domestic economy.

Sitharaman on Wednesday expressed deep confidence that India will be the third-largest economy in the world with a gross domestic product (GDP)of over $5 trillion by 2027-28.

With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new tech for users across the globe looking to invest in India.