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.