NSE signs pact with various entities to set up international bullion exchange at GIFT City

NEW DELHI: The National Stock Exchange (NSE) on Monday said it has signed a pact with other entities for setting up an international bullion exchange, clearing corporation and depository at the GIFT City in Gujarat.

The other signatories are Multi Commodity Exchange of India Ltd, India INX International Exchange Ltd, National Securities Depository Ltd and Central Depository Services (India) Ltd, according to a press release.

The Memorandum of Understanding is in line with the government'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," it added.