IndusInd Bank has launched a dedicated banking vertical for Global Capability Centres in India, bringing corporate and employee banking services under a single relationship model as the country's GCC ecosystem expands in scale and complexity.
The new GCC Banking vertical will combine five core capabilities: digital banking, employee banking, commercial card solutions, capital account and Foreign Exchange Management Act solutions, and foreign-currency accounts through the bank's International Banking Unit at GIFT City.
According to IndusInd Bank, India's GCC ecosystem has grown 32% since FY2021 and now comprises 2,117 centres. The expansion comes as global companies increasingly use their India operations for functions beyond traditional shared services, including technology, engineering, analytics, finance and research.
The bank said the dedicated vertical is designed to address the banking requirements that emerge as these centres manage larger workforces and more complex domestic and cross-border operations. The model brings business, workforce and international banking requirements under a single banking relationship.
IndusInd Bank has structured the proposition around three areas: unified banking, digital-first services and responsive support. Under the unified model, GCC clients will be able to access corporate and employee banking capabilities through the same relationship. Digital banking platforms will support the operating requirements of both the centres and their employees, while the bank will also provide access to senior bankers and India-focused specialist advice.
The bank's International Banking Unit at GIFT City will form another part of the offering. Through the unit, GCCs will be able to access foreign-currency account solutions for certain cross-border banking requirements alongside the bank's wider corporate banking services.
Niraj Shah, Country Head, Corporate Banking at IndusInd Bank, said India's GCC ecosystem has moved beyond traditional shared-services operations and is increasingly handling strategic functions for global organisations. He added that the banking requirements of these centres are becoming more nuanced as the sector grows.
The launch reflects how the supporting ecosystem around GCCs is evolving alongside the centres themselves. As their mandates broaden, banking requirements can extend across employee services, commercial payments, foreign exchange, capital account transactions and international operations.
For IndusInd Bank, the dedicated vertical creates a specialised framework for servicing these requirements rather than treating corporate and employee banking as separate relationships.
The initiative also places GIFT City's international banking infrastructure within the bank's GCC proposition, providing a domestic route for foreign-currency banking services as multinational companies expand their capability centres and strategic operations in India.
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