PM Modi launches India’s first International Bullion Exchange in Gandhinagar, Gujarat.

• Prime Minister recently launched India’s first International Bullion Exchange (IIBE) at Gujarat International Finance Tech (GIFT) City in Gandhinagar.
• Prime Minister also launched NSE IFSC-SGX Connect and laid the foundation stone of the headquarters of the International Financial Services Centres Authority (IFSCA) at GIFT City.
  GIFT city has been established as an integrated finance and technology services hub for India and the world.
• It will help India in entering the league of countries like USA UK and Singapore which are giving direction to global finance.
• With the inauguration of IIBE, India can influence the gold pricing and can play an important role in setting the gold prices.
• The IFSCA headquarters will provide abundant opportunities for making India an economic superpower.

Various new initiatives

• The commencement of financial operations in India by three leading global banks such as Deutsche Bank, JP Morgan Chase Bank, and MUFG Bank.
• Indian Regional Office of the New Development Bank will also be set up at GIFT City

IFSCA also signed memorandums of understanding