Mumbai, September 28: Mid-tier private lender IndusInd Bank has announced the launch of a specialized banking division dedicated exclusively to Global Capability Centers (GCCs). This move aims to help the bank capture opportunities in the expanding GCC ecosystem, which is slowly emerging as a vital part of India’s technology ecosystem.
These GCCs are increasingly playing a crucial role for multinationals- offering critical functions like IT, finance and technology development, as they represent India’s presence in the global supply chain.
For the bank, targeting GCCs allows it to boost exposure to multinational clients, integrating it deeper into the global corporate lifecycle.
“India’s GCC ecosystem has evolved beyond traditional shared-services operations, with centers increasingly taking on technology, engineering, analytics, finance, research and other strategic functions for global organizations. As the sector continues to grow in scale and strategic importance, its banking requirements are also becoming more nuanced. IndusInd Bank aims to support these evolving needs through a more integrated banking approach that brings together relevant capabilities and specialist guidance tailored to India-specific requirements,” Niraj Shah, Country Head – Corporate Banking, IndusInd Bank, explained.
With this move, IndusInd bank is aiming to diversify its incomes, offering cross border cash management and liquidity solutions besides risk management against currency volatility and management of global remittances between the parent company and their Indian subsidiaries, besides the traditional payroll accounts for high value employees.
For IndusInd Bank, creating a dedicated GCC banking division for GCCs is expected to help it boost growth and stability for the high-tech corporate segment, favoring high-margin, fee-generating services.
