IndusInd Bank has set up a dedicated banking vertical for Global Capability Centres (GCCs), the offshore units multinational companies run in India, bringing its corporate and employee banking services for the sector under a single relationship. The bank announced the launch in Mumbai on September 28, 2026.
The vertical combines five services: digital banking, employee banking, commercial card solutions, capital account and foreign exchange management (FEMA) solutions, and foreign-currency accounts offered through the bank’s International Banking Unit (IBU) at GIFT City.
The IBU gives GCCs a way to hold foreign-currency accounts and handle certain cross border banking needs alongside their domestic banking, and IndusInd Bank said the combined offering lets them manage business, workforce and cross border requirements through one banking partner.
The proposition rests on three principles. The first is a single relationship covering both corporate and employee banking across all five services. The second is digital platforms designed around the way GCCs and their staff operate, and the third is senior level access and India focused specialist advice as their requirements change.
IndusInd Bank: What It Means
The bank pointed to the sector’s growth as the reason for the move. As per IndusInd Bank, India now has 2,117 GCCs, and the ecosystem has grown 32% since the financial year 2021.
Niraj Shah, Country Head of Corporate Banking at IndusInd Bank, said GCCs have moved well beyond back office work and now carry out strategic functions for their parent companies, which is making their banking needs more complex.
“India’s GCC ecosystem has evolved beyond traditional shared-services operations, with centres increasingly taking on technology, engineering, analytics, finance, research and other strategic functions for global organisations. 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.”
For GCCs, which often have to juggle foreign parent companies, capital account rules and large local workforces at the same time, having one bank handle all of it could cut down the number of relationships their finance teams need to manage. For IndusInd Bank, the vertical is a way into a fast growing group of corporate clients, with the salary accounts of their employees potentially following the corporate relationship.
Digital Trade Outlook: What stands out is the GIFT City piece. By offering foreign-currency accounts through its IBU alongside domestic banking, IndusInd Bank is giving GCCs a way to manage some of their cross border banking in India, instead of relying on their parent companies’ global banks. If it works, GCCs could become a contested segment for Indian lenders rather than a relationship largely left to international banks.
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