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Which Bank has issued India’s first foreign portfolio investor (FPI) licence to the GIFT IFSC alternative investment fund (AIF) of True Beacon Global?
Kotak Mahindra Bank
Correct Option is Kotak Mahindra Bank
Solution:Kotak Mahindra Bank has issued the first-ever foreign portfolio investor (FPI) licence to the GIFT IFSC alternative investment fund (AIF) of True Beacon Global. This is the first FPI licence issued to an AIF incorporated in GIFT IFSC by any custodian bank or designated depository participant (DDP) in the country. AIF is an important business vertical at GIFT IFSC and offers huge benefits and a competitive edge for setting up a fund in IFSC at GIFT City.
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