Daijiworld Media Network - Mumbai

Mumbai, Nov 2: The State Bank of India (SBI) on Saturday announced that it has successfully executed its first gold trade as a Special Category Client (SCC) on the India International Bullion Exchange (IIBX), a move seen as a major milestone in reshaping the country’s bullion import framework.

The development, SBI said, signals the beginning of “a transformative era” for India’s bullion trade — enhancing efficiency, transparency, and accessibility, particularly benefiting MSME jewellers across the nation.

SBI, which became the first bank to join IIBX as a Trading-cum-Clearing (TCM) Member in 2024, said the new SCC status will allow it to facilitate smooth bullion transactions for jewellers, bullion dealers, and other stakeholders.

In an official state

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