SBI Joins India Bullion Exchange as Special Category Client

In a significant step toward modernising India’s gold import ecosystem, the State Bank of India (SBI) announced its first gold trade as a Special Category Client (SCC) on the India International Bullion Exchange (IIBX). The move, announced on 1 November 2025, is expected to reshape how gold is imported and traded in India, especially benefiting MSME jewellers through better pricing and streamlined access.

What Is the India International Bullion Exchange (IIBX)?

Launched to make India a global bullion trading hub, IIBX operates from GIFT City, Gujarat. It offers a centralised and transparent platform for bullion imports and trading, especially aimed at reducing reliance on opaque and fragmented import channels.

IIBX enables,

• Direct gold imports by qualified jewellers
• Efficient price discovery and clearing
• Reduced costs and improved regulatory oversight

SBI’s Role as a Special Category Client (SCC)

As an SCC, SBI acts as a key intermediary to,

• Facilitate gold transactions for jewellers and bullion dealers
• Ensure compliance with global trade and financial norms
• Promote competitive pricing and better liquidity in the bullion market

SBI is already a Trading-cum-Clearing (TCM) Member of IIBX since 2024, and now, as an SCC, the bank’s involvement brings scale and trust to the platform.

Key Benefits and Industry Impact

For MSME Jewellers

• Access to a regulated marketplace
• Lowered import costs and greater pricing efficiency
• Improved ease of transactions and credit access

For the Bullion Sector

• Increased transparency and traceability
• Enhanced global competitiveness
• Better integration with international bullion markets

For India’s Economy

• Supports financial inclusion by linking traditional jewellers with formal banking channels
• Reduces dependency on non-transparent import routes
• Boosts investor confidence in GIFT City and digital trade infrastructure

Static Facts

• Event: SBI executes its first gold trade as a Special Category Client (SCC) on IIBX
• Date: 1 November 2025
• Exchange: India International Bullion Exchange (IIBX)
• Location: GIFT City, Gujarat
• SBI’s status:
• First bank to become a TCM Member (2024)
• Now a Special Category Client (2025)