CURRENT AFFAIRS

Detailed explanation-1: -Prime Minister Narendra Modi launched the NSE IFSC-SGX Connect, a joint venture between the National Stock Exchange of India (NSE) and Singapore Exchange (SGX) at the Gujarat International Finance Tec (GIFT) City, Gandhinagar on Friday. The new platform will enable global investors to trade in dollar-denominated.

Detailed explanation-2: -SGX Nifty is a derivative of the Nifty index, which is traded in the Singapore stock exchange platform, where this trade sets a predetermined price of a share and reduces the future risk of any investments.

Detailed explanation-3: -NSE joined hands with the Industrial Development Bank of India (IDBI) and the Unit Trust of India (UTI) to promote dematerialisation of securities. Together they set up National Securities Depository Limited (NSDL), the first depository in India.

Detailed explanation-4: -SGX GIFT City Connect represents the collaboration between the National Stock Exchange of India (NSE) and the Singapore Exchange (SGX) to create a unified liquidity pool for NIFTY products in GIFT City (Gujarat International Finance Tech City).

Detailed explanation-5: -The India International Exchange Limited (India INX) is India’s first international stock exchange which is under the ownership of Ministry of Finance, Government of India. It is located at the International Financial Services Centre, GIFT City in Gujarat.