PM Modi launches India's first international bullion exchange in Gujarat

PM Modi launches India's first international bullion exchange in Gujarat

Daily Current Affairs   /   PM Modi launches India's first international bullion exchange in Gujarat

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Category : National Published on: August 01 2022

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  • Prime Minister Narendra Modi on Friday inaugurated the country’s first international bullion exchange – the India International Bullion Exchange (IIBX) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.
  • He also laid the foundation stone of the Headquarters Building of the International Financial Services Centres Authority, in Gandhinagar.
  • IIBX is the third such exchange in the world and has been set up with an aim to enable India to become an influencer for global bullion prices.
  • IIBX will facilitate the transition of the Indian Bullion Market towards a more organised structure by roping in qualified jewellers.
  • IIBX is promoted by five market institutional investor’s i.e., CDSL, India INX, NSDL, NSE and MCX.
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