Prime Minister Narendra Modi will officially lay the foundation stone for the IFSCA (International Financial Services Centres Authority) Headquarters Building in Gujarat.
The major regulatory authority for the development and oversight of financial goods, financial services, and financial institutions in India's international financial services centres is known as IFSCA. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
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THE KEY POINTS
- The IFSCA headquarters building was created as a recognizable landmark as a representation of the growing significance and status of Gujarat International Finance Tec, or GIFT, as a leading international financial centre.
- The India International Bullion Exchange, India's first foreign bullion exchange, will be launched by the Prime Minister in GIFT-IFSC.
IFSCA's importance
- This would make it possible for effective price discovery while providing the assurance of ethical sourcing and quality, which will hasten the financialization of gold in India.
- This would provide India with the chance to restore its rightful place in the global bullion market and offer reliable, top-notch services to the global value chain.
- Additionally, it will underline the federal government's resolve to provide India, a significant consumer, the ability to influence the direction of global bullion prices.
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