SBI Becomes Special Category Client of India International Bullion Exchange

State Bank of India (SBI) has marked a new chapter in India’s bullion trade by executing its first gold transaction as a Special Category Client (SCC) on the India International Bullion Exchange (IIBX), signalling a transformative shift towards greater efficiency and transparency in the precious metals market.

SBI’s Landmark Move in Bullion Trading

SBI’s entry as a Special Category Client follows its earlier milestone in 2024, when it became the first bank to register as a Trading-cum-Clearing (TCM) Member on the IIBX platform at GIFT City. The inaugural gold trade represents a breakthrough for the Indian bullion industry, enabling smoother, more transparent imports for jewellers, bullion dealers, and MSMEs.

As an SCC, SBI will facilitate seamless bullion transactions through IIBX, helping streamline imports and reduce reliance on conventional channels. The move is designed to bolster the government’s push toward formalising and modernising the bullion trade while ensuring cost efficiency and global compliance.

Driving Efficiency and Industry Growth

As per the news reports, Chairman C.S. Setty, the partnership reinforces SBI’s position as a pioneer in financial services and strengthens India’s ambition to make GIFT City a global financial hub. He described the achievement as a “moment of national pride,” emphasising its benefits for the entire jewellery value chain, from importers and wholesalers to end consumers.

SBI’s active role is expected to enhance liquidity, promote competitive pricing, and fuel sustainable growth across the bullion and jewellery ecosystem. The bank’s leadership at IIBX could also encourage other financial institutions to join as Special Category Clients, collectively advancing India’s bullion market integration with international standards.

Read More: India’s Gold Demand Falls 16% to 209.4 Tonnes in Q3 2025 Despite ₹2,03,240 Crore Value Surge!

SBI Share Price Performance 

As of November 03, 2025, at 11:15 AM, State Bank of India share price is trading at ₹947.80 per share, reflecting a gain of 1.15% from the previous closing price.

Conclusion

SBI’s debut trade on the India International Bullion Exchange highlights its commitment to innovation and inclusive financial progress. The move positions India to reshape its bullion import landscape, aligning with the country’s broader vision of becoming a global hub for transparent and efficient precious metal trading.

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