State Bank of India (SBI) on Saturday announced executing its inaugural gold trade as a special category client (SCC) on the India International Bullion Exchange (IFSC) Ltd.

This event heralds a transformative era for bullion imports in India, enhancing efficiency, transparency, and accessibility for the industry, particularly the MSME jewellers, SBI said in a statement.

SBI was also the first bank to become a Trading-cum-Clearing (TCM) Member at India International Bullion Exchange in 2024, it said.

Bank to drive transparent, efficient bullion imports

As a special category client, SBI is positioned to facilitate seamless bullion transactions, supporting jewellers, bullion dealers, and other stakeholders in importing gold through IIBX and meeting the escalating demand for precious meta

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