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Question

Consider the following statements regarding ‘GIFT NIFTY’: 

Statement-I:  GIFT NIFTY is the first of its kind trading link, with trading and matching in India and clearing and settlement in Singapore.

Statement-II:  It will help Indian markets to increase their reach among global investors, especially those who are not directly engaged with Indian capital markets.

Which one of the following is correct in respect of the above statements?

A Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I Correct Answer Incorrect Answer
B Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I Correct Answer Incorrect Answer
C Statement-I is incorrect but Statement-II is correct Correct Answer Incorrect Answer
D Statement-I is correct but Statement-II is incorrect Correct Answer Incorrect Answer

Solution

SGX Nifty is a derivative contract traded on the Singapore Stock Exchange based on Nifty 50 Index.  GIFT NIFTY is the first of its kind trading link, with trading and matching in India and clearing and settlement in Singapore It will help Indian markets to increase their reach among global investors, especially those who are not directly engaged with Indian capital markets.

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