IIBX

In this article we will discuss IIBX

In this article, we will discuss IIBX. So, let’s get started.

IIBX

  • India International Bullion Exchange (IIBX) was first announced in the Union Budget 2020 for easing the Gold Import by Jewellers in India.
  • It is a platform that not only enrols jewellers to trade on the exchange, but has also set up necessary infrastructure to store physical gold and silver.
  • IIBX will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to the financialisation of gold in India.
  • IFSCA is entrusted with notifying the eligible qualified jewellers in India for directly importing gold through IIBX.

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