Business Standard

Monday, December 23, 2024 | 11:14 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Nirmala Sitharaman's Budget: Nod to international bullion exchange at IFSC

The government has also allowed rupee derivatives to be traded GIFT-IFSC, with an intention to bring all offshore rupee trading onshore with a 22-hour trading window

Nirmala Sitharaman's Budget: Nod to international bullion exchange at IFSC
Premium

Rajesh Bhayani
The government on Saturday proposed to set up an international bullion exchange at IFSC in GIFT City. “The exchange will enable India to enhance its position worldwide, create jobs in India and will lead to better price discovery of gold,” said finance minister Nirmala Sitharaman while presenting the Union Budget 2020-21.

“Finance minister has re-emphasised the importance of GIFT-IFSC as an emerging global financial services hub. The policy pronouncement regarding GIFT-IFSC gives a tremendous boost to investor confidence both in India and abroad,” said GIFT City Managing Director Tapan Ray.

The government has also allowed rupee derivatives to be traded GIFT-IFSC, with
Topics : bullion

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in