Bullion Custodian: CDSL Subsidiary Recognized as Bullion Custodian at IFSC

MUMBAI: An arm of Central Warehouse Services has been recognized as the bullion depository in the International financial services center at GIFT City in Gujarat.

CDSL IFSC It received recognition from the IFSC regulatory authority and can now provide various functions such as holding and transferring bullion such as gold. The company said that the holding and transfer facility will subsequently be expanded to silver and any other product that is approved by the IFSC authority.

“I am confident that the bullion deposit will not only contribute to the growth of the financial ecosystem, but will also provide support to ensure that the IFSC becomes the epitome of world-class sophistication in terms of products and services,” said Managing. Director and CEO Nehal Vora.

Shares of CDSL ended up 0.9 percent to Rs. 1,215 in the National Stock Exchange.

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