Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Credit Suisse and UBS are in talks to merge – FT

    March 18, 2023

    Abu Dhabi to host the largest autonomous racing league in the world

    March 18, 2023

    Funding drought compels UN food agency to cut rations in Afghanistan

    March 18, 2023
    Facebook Twitter Instagram
    Angola ReportAngola Report
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Angola ReportAngola Report
    Home » PM Modi launches first International Bullion Exchange in India
    Business

    PM Modi launches first International Bullion Exchange in India

    July 30, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    India’s first International Bullion Exchange (IIBE) was launched by Prime Minister Narendra Modi at Gujarat International Finance Tech (GIFT) City in Gandhinagar, India. Additionally, he inaugurated the NSE IFSC-SGX Connect and laid the foundation stone for the headquarters of the International Financial Services Centres Authority (IFSCA).

    PM Modi launches first International Bullion Exchange in IndiaIn his address, PM Modi said GIFT city has been established as a global hub for finance and technology services. India has now joined the league of countries like the USA, UK, and Singapore providing direction to global finance, according to Mr Modi. In addition to having an impact on gold pricing, India can also play a role in setting gold prices with the inauguration of IIBE.

    PM Modi said the country has witnessed a wave of financial inclusion that is allowing even the poorest of the poor to take part in formal financial institutions. Hence, it is imperative that all government and private players work together to spread financial literacy. As a result of the IFSCA headquarters, Mr Modi expressed confidence that India would become an economic superpower within a short period of time.

    India is one of the leading gold importers, so the IIBE will increase India’s negotiating power in gold trading, said Union Finance Minister Nirmala Sitaraman. On the occasion, Gujarat Chief Minister Bhupendra Patel was joined by Ministers of State for Finance, Pankaj Chaudhary and Bhagwat Karad.

    In the presence of Prime Minister Modi, several new initiatives were announced, including the start of financial operations in India by three leading global banks: Deutsche Bank, JP Morgan Chase Bank, and MUFG Bank. The New Development Bank will also establish an Indian Regional Office in GIFT City. A number of memorandums of understanding (MoUs) were also signed with regulatory authorities in Singapore, Luxembourg, Qatar, and Sweden in the presence of PM Modi.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Credit Suisse and UBS are in talks to merge – FT

    March 18, 2023

    Ryan Reynolds joins other celebrities in $1.35 billion Mint Mobile deal

    March 15, 2023

    Dollar slips as investors await Powell testimony

    March 6, 2023

    UAE, Egypt, Jordan, and Bahrain sign $2 billion in industrial deals

    February 27, 2023
    Latest News

    Credit Suisse and UBS are in talks to merge – FT

    March 18, 2023

    Abu Dhabi to host the largest autonomous racing league in the world

    March 18, 2023

    Funding drought compels UN food agency to cut rations in Afghanistan

    March 18, 2023

    Czech freediver dives into frozen Swiss lake to record depths

    March 17, 2023

    Magnitude 7.1 earthquake rocks Kermadec Islands in New Zealand

    March 16, 2023

    Despite banking turmoil, the ECB continues to hike rates

    March 16, 2023

    Ryan Reynolds joins other celebrities in $1.35 billion Mint Mobile deal

    March 15, 2023

    India will have the largest green railway in the world by 2030

    March 14, 2023
    © 2023 Angola Report | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.