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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
Syndicate Bank was one of the oldest major commercial banks in India. It was founded by Upendra Ananth Pai , T. M. A. Pai and Vaman Srinivas Kudva . At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited .
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India. The GST council makes recommendations to the Parliament of India to make or amend laws related to the taxes on goods and services in India. [48] The 54th GST Council Meeting was held on 9th Sept 2024. [49] [50] [51]
It oversees the administration of indirect taxes, including customs duties, excise duties, and the Goods and Services Tax (GST). CBIC's function also extends to prevention of smuggling, illicit financial activities , and regulation and control of narcotics through its attached/subordinate offices.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
In December 2015 the first International Financial Services Centre (IFSC) in India was set up in Gujarat International Finance Tec-City (GIFT City). [5] In 2019 the Government of India enacted an Act of Parliament called the International Financial Services Centres Authority Act, 2019. [6] [7] [5]
IFSC may refer to: Indian Financial System Code; International Federation of Sport Climbing; International Financial Services Centre (disambiguation), several financial areas; International Financial Services Centre, GIFT City Financial Centre in India