Bank of Baroda Secures IFSCA Approval to Operate as Trading-Cum-Clearing Member on IIBX

Bank of Baroda has received approval from the International Financial Services Centres Authority (IFSCA) to function as a Trading-Cum-Clearing Member (TCM) on the India International Bullion Exchange IFSC Limited (IIBX) at GIFT City.

About IIBX

IIBX, launched in July 2022, is India’s first international bullion exchange. The platform was set up to enable organised bullion trading and create a regulated market for participants at GIFT IFSC.

Scope of Operations

As a Trading-Cum-Clearing Member, the bank will carry out execution, clearing, and settlement of bullion trades on the exchange. This will add another activity to the exchange’s functioning and expand Bank of Baroda’s role in the bullion market.

Existing Presence at GIFT City

Bank of Baroda was one of the early banks to establish operations at GIFT IFSC. Its International Banking Unit (IBU) currently manages treasury, trade finance, and capital market transactions from the financial hub. With this new approval, bullion trade will also be handled through the IBU.

Statement from the Bank

As per the news reports, Lalit Tyagi, Executive Director of Bank of Baroda, stated, "With our strong presence at GIFT City and expertise in international banking, we will contribute to building a transparent, technology-driven bullion market that inspires investor confidence and enhances India's global financial standing." 

Ownership and Network

Bank of Baroda has a 63.97% government shareholding. It caters to over 180 million customers worldwide. The bank has close to 65,000 service points across 17 countries on five continents, in addition to its digital banking platforms.

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Bank of Baroda Share Price Performance 

As of September 29, 2025, 10:13 am, Bank of Baroda share price was trading at ₹251.98, a 1.42% increase from the previous closing price.

Conclusion

The nod from IFSCA allows Bank of Baroda to expand its scope of business at GIFT City by adding bullion trade to its existing international operations.

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