CITIBANK N.A. – IBU
About Gujarat International Financial Tech-City (GIFT City)
GIFT City, located in Gandhinagar Gujarat, is India’s first International Financial Services Centre (IFSC). It is a one-stop destination for all international financial services. It offers an opportunity for all stakeholders to benefit from this emerging ecosystem.
Citi inaugurated its branch at Gujarat International Finance Tech-City - International Financial Services Center (GIFT-IFSC) in March 2023. Citi offers corporate clients long and short-term financing solutions through the Citibank N.A. IFSC Banking unit, while providing an international financial banking experience within India Standard Time zone. The Citibank N.A. IFSC Banking unit offers external commercial borrowings and trade loans, addressing foreign currency funding requirements of multinationals, large local corporates and financial institutions, as well as emerging mid-corporates.
Corporate Banking Products
External Commercial Borrowings [ECBs] are defined as commercial bank loans from multilateral financial institutions, securitized instruments, convertible/non-convertible preference shares/debentures, FCCB/FCEB, Financial Lease and buyers’/suppliers’ credit [for 3 years] to meet capex expenditure, working capital requirements, etc. ECBs allows the borrower to diversify the investor base.
Being a recognized lender, Citibank N.A. can participate as arrangers / underwriters / market-makers for ECBs.
Trade Products
Import Finance - Buyer's Credit
Regulated under RBI Master Direction on External Commercial Borrowing, Trade Credits and Structured Obligations. Buyers Credit refers to credit extended by bank, financial institution, and other permitted recognized lenders for up to 3 years’ tenor for import of capital/ non-capital goods permissible under the Foreign Trade Policy.
Buyer's credit is a loan facility extended to an importer [for imports into India] by an overseas financial institution, such as Citibank N.A. IFSC unit, to meet its working capital or capital expenditure needs.
Post Shipment - Export Finance
Post shipment export financing via Letter of Credit Bill negotiation delivers customized financing solutions to exporters, which includes LC confirmation. Such financing are self-liquidating structures, which cover the commodities supply chain.
Receivables Financing
- Finance domestic and cross-border trade accounts receivable.
- Inject much needed working capital into distribution channels.
- Access alternative sources of liquidity.
Citi Supplier Finance (CSF)
- Citi Supplier Finance supports the financing of post-shipment domestic and cross-border commercial transactions through the purchase of Trade Accounts Receivables (“AR”).
- Citi Supplier Finance provides accounts payable (“AP”) electronic disbursement service to “Buyers”. These buyers use the disbursement service to make electronic payments to their vendors or “Suppliers” that provide them with goods and services, such as parts, raw materials and inventories.
Export and Agency Finance (EAF)
Citi Export and Agency Finance (“EAF”) provides medium to long-term lending solutions supported by Export Credit Agency (“ECA”), Development Finance Institution (“DFI”) and Multilateral Agency (“MLA”) for our clients. Eligibility typically extends to capital goods and services and projects demonstrating national interest or secured by offtake agreements from foreign companies. Citi EAF has been operating more than 40 years with relationship with almost all the key agencies across the globe and stands as a market leader in ECA-backed financing globally and in India. Our extensive knowledge of the ECA market allows us to deliver the most efficient approach in structuring, arranging, and executing financings for our clients.
Financial Institutions - Trade Advances
As a bank for banks, Citi provides a variety of trade solutions to its Financial Institution clients with the aim to help them grow their underlying trade business with SMEs, MSMEs and corporate clients.
A FI Trade advance facility provides short-term financing to banks to enable them to grow their underlying trade portfolio. Underlying loans could be for refinancing trade related lending towards payment obligations via documentary Letters of Credit, open account, documentary collections, Import Loans, post shipment credit or Packing Credit loans up to one-year tenor with simple documentation.
USD - Currency in which the above products are offered
Nostro Details
Account Name – Citibank GCIB-GIFT SEZ
Account Address – GIFT City, Gandhinagar, India
SWIFT Code – CITIINBXOFS
Currency – USD
Account No. – 31386866
Account with bank – Citibank, N.A. 388 Greenwich Street New York, NY 10013, US
SWIFT Code – CITIUS33XXX
ABA – 021000089
Branch Code - 930
IFSC Code Citibank, N.A. IBU - GIFT0CITI01
Note: The IFSC code should be used by remitters only when they are undertaking cross-border remittance to Citibank N.A. IFSC Banking unit. The code should be quoted in the relevant field in cross-border payment systems messages since quoting the IFSC code of the destination branch in India is a mandatory requirement in such cases. This code should not be used for initiating payments using any of the domestic payment systems, like NEFT, RTGS, etc.
Public Disclosures
Financial Statements
Locate Us
Citibank, N.A. IFSC Banking Unit (IBU)
[Regulated by IFSC Authority]
Unit No. 507, Hiranandani Signature,
GIFT SEZ, GIFT City, Gandhinagar,
Gujarat – 382355. India
Citibank, N.A. IFSC Banking Unit business hours - 10:00 a.m. to 5:00 p.m. for working weekday & working Saturday [Excluding Public Holidays and second and fourth Saturdays of every month]
Complaint Handling and Grievance Redressal
The timely and effective handling of consumer complaints/concerns is fundamental to Citi’s principles of responsible finance and its commitment to treat consumers fairly. Complaint Handling and Grievance Redressal Policy is enclosed herewith.
Complaint Handling and Grievance Redressal Policy
In case you wish to register a complaint related to business handled from Citibank, N.A. IFSC Banking Unit (IBU), please feel free to reach us using one of the following channels:
- Email to Complaint Redressal Officer – Apoorv Kumar - Email ID : ifscbranch@citi.com
- Visit us for an interaction at Citibank N.A. IFSC Banking unit.
If not satisfied with the response from the above access channels, you can escalate the Complaint/Concerns to the Complaints Redressal Appellate Officer (CRAO) - Shajin Chandran at Email ID: shajin.chandran@citi.com.