Speaking at the Global Fintech Fest (GFF) 2025 in Mumbai, Sitharaman said the FCSS will enable real-time settlement of foreign currency transactions within the International Financial Services Centre (IFSC), eliminating the current lag of up to 48 hours

Union Finance Minister Nirmala Sitharaman on Tuesday announced the launch of the Foreign Currency Settlement System (FCSS) at GIFT City, marking a major step in India's push to become a global financial and fintech hub.

Speaking at the Global Fintech Fest (GFF) 2025 in Mumbai, Sitharaman said FCSS will enable real-time settlement of foreign currency transactions within the International Financial Services Centre (IFSC), eliminating the current lag of up to 48 hours. Read More

"This is a forward-looking step that places GIFT-IFSC among

See Full Page