Indian Banks Which Are Authorized to Import Gold/Silver Can Now Act As Special Category Client (SCC) of IIBX | RBI
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- Last Updated on 13 February, 2024
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Circular No. RBI/2023-24/120 DoR.AUT.REC.74/24.01.041/2023-24, Dated 09.02.2024
Earlier, the RBI had allowed the branches of Indian Banks operating in GIFT-IFSC to act as Professional Clearing Member (PCM) of India International Bullion Exchange IFSC Limited (IIBX).
Now, on review, RBI has decided to allow Indian banks authorized to import gold/silver to act as Special Category Clients (SCC) of IIBX. Further, a Branch/subsidiary/joint venture of an Indian bank in GIFT-IFSC to act as a Trading Member (TM)/Trading and Clearing Member (TCM) of IIBX.
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