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CS Professional · IFSCA - Regulations, Listing and Compliances · India International Bullion Exchange (IIBX)

Meera, a jeweller in Surat, wants to import gold through the India International Bullion Exchange. She asks the company secretary where the exchange is located and who regulates it. Which answer is correct?

IIBX operates within the GIFT City International Financial Services Centre in Gandhinagar, Gujarat, and is regulated by the International Financial Services Centres Authority (IFSCA), the unified regulator of the IFSC, not by SEBI or RBI.

  1. AIt operates in GIFT City IFSC, Gandhinagar, and is regulated by IFSCACorrect
  2. BIt operates in Mumbai and is regulated by SEBI
  3. CIt operates in GIFT City IFSC and is regulated by RBI
  4. DIt operates in Surat and is regulated by the Ministry of Commerce

Explanation

IIBX is set up in the GIFT City IFSC in Gandhinagar, Gujarat. The unified regulator for the IFSC, IFSCA, regulates it. SEBI and RBI do not regulate the exchange, so the Mumbai and RBI options are wrong.

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