- India International Bullion Exchange (IIBX) will be launched in Gujarat International Finance Tech-City (GIFTcity). GIFT city is India's first International Financial Services Centre (IFSC).
- PM Modi will also lay the foundation stone of the headquarters of the International Financial Services Centres Authority (IFSCA).
- The launch of IIBX will facilitate efficient price discovery with responsible sourcing and quality thus giving a boost to the financialization of gold in India. This will help India to gain a rightful place in the global bullion market.
- PM Modi will also launch NSC IFSC-SGX connect. This system will enable all orders on Nifty derivatives placed by members of Singapore Exchange Limited (SGX) to be routed to and will be matched on the NSE-IFSC order matching and trading platform.
- Brokers-Dealers from India and across the globe can trade derivatives through this connection.
- The event will be attended by CM of Gujarat Bhupendra Patel, Union minister of home affairs and co-operation Amit Shah, Nirmala Sitharaman Union Minister of Finance and Corporate Affairs, and Union Minister of State for Finance Pankaj Chaudhary and Bhagwat Kishanrao.
- Static Knowledge:
- CM of Gujarat - Bhupendra Patel
- Governor of Gujarat - Acharya Devvrat
Question:
Q.1 Who will inaugurate Indian International Bullion Exchange (IIBX) in GIFT City?
a. Narendra Modi
b. Amit Shah
c. Nirmala Sitharaman
d. Bhagwat Kishanrao
a. Narendra Modi
b. Amit Shah
c. Nirmala Sitharaman
d. Bhagwat Kishanrao
