SWIFT India Domestic Services Pvt Ltd (“SWIFT India”) is a privately held company, with shareholders comprising of SWIFT SCRL and a cross section of Indian public and private sector banks.
SWIFT SCRL is a company with limited liability registered in Belgium and is a member-owned cooperative through which the global financial world conducts its business operations with speed, certainty and confidence. More than 10,500 financial institutions and corporations in 215 countries trust SWIFT SCRL to exchange millions of standardised financial messages with reliability, security and resiliency. SWIFT SCRL represents its interests in the venture and the interests of the global banking community.
Indian shareholders bring the insights and knowledge of domestic customers and users of the services of the company. They represent their own institutions and the interests of the broader Indian financial community, which includes domestic banks, market infrastructures and their respective customers.
The mission and vision of SWIFT India is to enable harmonising of channels and standards, thereby
a) reducing costs and risks,
b) expanding the reach of automated, standardised and secure exchange of information across the industry,
c) enabling new instruments, opportunities and markets for the industry.
The shareholders of SWIFT India currently comprise of (in alphabetical order) AXIS Bank Ltd, Bank of Baroda, Bank of India, Canara Bank, Citibank, HDFC Bank Ltd, ICICI Bank Ltd, Punjab National Bank, Standard Chartered Bank, State Bank of India, SWIFT SCRL and Union Bank of India.