Private sector HDFC Bank on Monday claimed that it has become the first domestic lender to execute a gold forward deal from GIFT City.
The deal was executed by HDFC BANK GIFT City IBU in collaboration with Hindustan Platinum Pvt Ltd, a global refiner and manufacturer of high purity precious metal products and industrial services, HDFC Bank said in a statement.
Regulators have enabled onshore entities with gold price exposure to hedge their risk through GIFT City, it said, adding, HDFC Bank is committed to be a part of the development of the GIFT City bullion ecosystem.
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