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Home > All news > FM Sitharaman launches foreign currency settlement system at GIFT City, calls for responsible AI-driven fintech growth at GFF 2025

FM Sitharaman launches foreign currency settlement system at GIFT City, calls for responsible AI-driven fintech growth at GFF 2025

October 8, 2025
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MUMBAI: Union Finance Minister Smt. Nirmala Sitharaman announced the launch of the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City).

Speaking at the inaugural speech at Global Fintech Fest (GFF) 2025 in Mumbai, Sitharaman said it is a significant step in India’s journey toward becoming a global financial and fintech hub.

The system will allow real-time settlement of foreign currency transactions within the International Financial Services Centre (IFSC), reducing the existing lag of up to 48 hours, she added . . .

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