Gandhinagar, Dec. 14 -- The International Financial Services Centres Authority (IFSCA) has notified bullion exchange regulations, an official statement said.

In the Union Budget 2020, Union Minister of Finance Corporate Affairs Nirmala Sitharaman had made an announcement for operationalising an international billion exchange at the International Financial Services Centre in GIFT City, Gandhinagar, Gujarat.

Subsequently, the Government of India had notified the bullion spot delivery contract and bullion depository receipt (with bullion as underlying) as Financial Products and related services as Financial Services under the International Financial Services Centres Authority (IFSCA) Act, 2019.

IFSCA has been entrusted with the responsibi...