Commoditie

Decks cleared for bullion exchange at GIFT City

Our Burea New Delhi | Updated on December 13, 2020 Published on December 13, 2020

GIFT City regulator IFSCA’s recent regulations on bullion exchange has been notified and published in the official gazette on Friday.

The regulations cover the Bullion Exchange, Clearing Corporation, Depository and Vaults and are divided into 16 chapters. The first half of the regulations deals with the Exchange and Clearing Corporation, while the second half pertains to the Vaults and Depositories and related provisions, an official release said.

The Centre had notified the bullion spot delivery contract and bullion depository receipt as financial products and related services as financial services under the International Financial Services Centres Authority Act, 2019.

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Published on December 13, 2020
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