In November 2025, State Bank of India(SBI)has executed itsfirst gold transactionas a Special Category Client(SCC)on the India International Bullion Exchange(IIBX)located at Gujarat International Finance Technology(GIFT)City, Gujarat, marking a new chapter in India’s bullion market reforms.
AboutSBI’s Participation in IIBX:
Objective:The initiative aims to simplify bullion import processes, enhance price transparency, and provide better market access for jewellery exporters and Micro, Small and Medium Enterprises(MSME) within a regulated trading framework.
SCC Status:Under this category, banks can directly participate in bullion trading without registering as trading members, allowing for smoother procurement and improved price discovery in the bullion market.
TCM Member:SBI became the first Indian bank to register as a Trading-cum-Clearing(TCM)Member of IIBX in2024.
Global Trading Hub: The move also aligns with the Government’s vision to develop GIFT City as a global bullion trading hub under the International Financial Services Centers Authority (IFSCA) framework.
IAS-2026 - OPTIONAL / GEOGRAPHY / PUBLIC ADMINISTRATION / SOCIOLOGY / ANTHROPOLOGY / ORIENTATION ON 03 & 04-10-2025 
