India's First International Stock Exchange (INX) | SBI PO Prelims & Mains Preparation - Bank Exams PDF Download

Introduction

Features of INX

2. Working Hours: To match the pace of global economy and stock market, INX will remain open for 22 hours a day.

The stock exchange will open at 4 am and will close at 2 am. This time span is matched with Japan and US's stock exchange time. Japan Stock exchange open at 4 am according to Indian time and US Stock exchange closes at 2 am according to Indian time.

3. Investment Targets: Bombay Stock Exchange has kept the target of investing 500 crores in the market within three years.

4. Employees: To function perfectly, the staff of BSE has relocated to Gujrat. 100 BSE employees have shifted to INX. There is a team of local and foreign personnel too. 

5. Trading: INX will trade in securities and products along with Indian Rupee. It will indulge in the trading of equity shares of companies incorporated outside India, depository receipts, debt securities, currency and interest rate derivatives, index-based derivatives, commodity derivatives. For the first six months, it will offer only derivative products.

6. Security: To prevent money laundering and to manage risks and money manipulation, INX has a robust security system. 

Tax Benefits

• The people who will invest via INX will get following tax benefits
• No income tax for fixed time span
• Low commodity transaction tax
• Beneficial for dividend distribution tax
• Renunciation in long-term capital tax
• Beneficial in Security Transaction tax

Fast Facts For Quick Revision

Launched on: January 9, 2017
Launched by: Narendra Modi
Situated in: Gandhinagar, Gujrat
Situated at: Gujarat International Finance-Tec (GIFT) City
Working hours: 4 am- 2 am (22 hours)
Response Time: 4 microsecond (fastest in the world)
Investment: 500 crores in 3 years
Products: Derivative Products: equity, currency 7 commodity
Tax Benefits for: transaction tax, distribution tax capital tax
Income Tax: No income tax for three years