11 months ago
SBI Executes First Gold Trade on India's Bullion Exchange, Boosting MSME Access
Imagine a big store where people buy and sell gold.
The State Bank of India, which is a major bank, just made its very first purchase of gold on this special store called the India International Bullion Exchange.
This is exciting because it makes it easier and more open for smaller jewelry businesses to get gold.
The bank wants to help more people buy gold in a fair way.
This also helps India become a bigger player in the world of finance.
It's like the bank is opening a new, easier door for businesses to get the gold they need to make beautiful jewelry.
State Bank of India (SBI) completed its first gold trade as a special category client on the India International Bullion Exchange (IIBX).
This move aims to improve the efficiency, transparency, and accessibility of gold imports into India.
SBI was previously the first bank to become a Trading-cum-Clearing (TCM) Member at IIBX in 2024.
As a special category client, SBI will facilitate gold transactions for jewelers, bullion dealers, and other stakeholders.
The initiative supports SBI's strategic focus on GIFT City and government efforts to modernize the bullion trade.
- Who
- State Bank of India (SBI)
- What
- Executed its first gold trade as a special category client on the India International Bullion Exchange (IIBX).
- Where
- India International Bullion Exchange (IIBX) at GIFT City.
- When
- Announced on Saturday, November 1, 2025.
- Why
- To enhance efficiency, transparency, and accessibility for bullion imports, particularly for MSME jewelers, and to support GIFT City as a global financial hub.
Key facts
- Institution Executing Trade
- State Bank of India (SBI)
- Exchange
- India International Bullion Exchange (IIBX)
- Client Category
- Special Category Client (SCC)
- SBI's Membership Status
- Trading-cum-Clearing (TCM) Member since 2024
- Date of Announcement
- November 1, 2025
Quotes
State Bank of India
A leading bank in India that executed its inaugural gold trade on the India International Bullion Exchange.
“By acting as a key intermediary, SBI aims to drive greater liquidity, competitive pricing, and sustainable growth in India's bullion and jewellery industry, it said, adding that this may also encourage other nominated banks to join IIBX as Special Category Clients to collectively address the growing demands of this dynamic sector.”
thehindubusinessline.com
“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 metals across the country.”
thehindubusinessline.com
C S Setty
Chairman of the State Bank of India.
“This collaboration not only reinforces the bank's role as a pioneer in financial services but also contributes to reshaping bullion imports, making them more cost-effective and compliant with global standards.”
thehindubusinessline.com
“It's a moment of national pride, benefiting the entire ecosystem from importers to consumers in the jewellery sector.”
thehindubusinessline.com
