ENA Sectors 2025-11-04 17:39:42 <p><span style="font-size:14px"><strong>New Delhi, Nov 4 (KNN)</strong> State Bank of India (SBI) has carried out its first gold trade as a Special Category Client (SCC) on the India International Bullion Exchange (IIBX).</span></p> <p><span style="font-size:14px">The bank, which became the first Trading-cum-Clearing Member on the exchange in 2024, said the move underscores its commitment to strengthening Indias bullion ecosystem and supporting MSME jewellers and bullion dealers. </span></p> <p><span style="font-size:14px">As an SCC, SBI will facilitate smoother gold import transactions via IIBX, reducing dependence on traditional channels and enhancing efficiency in the supply chain.</span></p> <p><span style="font-size:14px">SBI Chairman C.S. Setty said the initiative reflects the banks leadership in financial innovation and will help make bullion imports more cost-effective and globally compliant, reported PTI. </span></p> <p><span style="font-size:14px">He said the partnership further strengthens SBIs leadership in the financial sector while helping transform bullion import processes, ultimately benefiting stakeholders across the jewellery industry.</span></p> <p><span style="font-size:14px">The bank added that its participation is aligned with the government's vision to position GIFT City as a global financial hub and to formalise and modernise the domestic bullion trade. </span></p> <p><span style="font-size:14px">SBI expects the move to increase liquidity, improve price competitiveness and potentially encourage other nominated banks to join IIBX as special category clients, thereby strengthening Indias bullion and jewellery industry.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 43991 https://knnindia.co.in/news/newsdetails/sectors/sbi-executes-first-gold-trade-as-special-category-client-on-india-international-bullion-exchange 2025-11-04 17:39:42 knnindia.co.in