National Stock Exchange of India Limited (NSE), the Multi Commodity Exchange of India Limited (MCX), India INX International Exchange Ltd (India INX), National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) have signed a memorandum of understanding for setting up Market Infrastructure Institutions comprising of International Bullion Exchange, Clearing Corporation and Depository at Gujarat International Finance Tec-City (GIFT).
The move is in line with the Government of India’s objective to make India a price setter in bullion through GIFT International Finance Service Centre (IFSC) and in accordance with the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 and other applicable laws.
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