IFSCA Renews Recognition of India International Bullion Exchange IFSC Ltd. as Bullion Exchange and Clearing Corporation

Notification F. No. IFSCA-PMTS/9/2023-Precious Metals, Dated: 03.12.2025

1. Overview of the Renewal

The International Financial Services Centres Authority (IFSCA) has granted a renewal of recognition to India International Bullion Exchange IFSC Limited (IIBX) as:

• A Bullion Exchange, and
• A Bullion Clearing Corporation

The renewed recognition will remain valid for a period of three years, starting from December 9, 2025 and ending on December 8, 2028.

2. Legal and Regulatory Basis

The renewal has been issued:

• Under the provisions of the IFSCA Act, and
• The Securities Contracts (Regulation) Act (SCRA)

This confirms IIBX’s continued eligibility to operate and clear bullion-related transactions at the GIFT IFSC, India’s international financial services jurisdiction.

3. Conditions of Recognition

The recognition is subject to compliance with:

• Regulatory conditions, operational standards, and supervisory requirements prescribed by the Authority
• Ongoing governance, risk management, reporting, technology, and financial adequacy norms
• Any additional compliance conditions, directions, or circulars that may be issued by IFSCA during the tenure of recognition

4. Significance of the Renewal

The renewal reinforces:

• The institutional continuity of India’s first international bullion exchange platform
• A formal clearing mechanism for bullion settlement and custody
• Greater regulatory predictability for market participants, clearing members, banks, and IFSC entities

It also supports the broader policy vision for GIFT IFSC—to deepen India’s role in international precious metals trade, offer transparent price discovery, and promote efficient settlement architecture.

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