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

Meera Jewellers, a Surat firm, wants to import gold into India through the India International Bullion Exchange (IIBX) located at GIFT IFSC. Which statement best describes the nature of IIBX as a platform for her purchase?

IIBX is IFSCA-regulated bullion exchange in GIFT IFSC. It offers a platform to trade gold and silver and related delivery through vaulting arrangements, enabling importers to source bullion. It is neither an agricultural derivatives exchange, a bank, nor an RBI warehouse.

  1. AA recognised stock exchange in the IFSC that provides a trading platform for bullion, including the Gold and Silver products, and related delivery through vaultsCorrect
  2. BA domestic commodity exchange regulated by SEBI for trading in agricultural futures only
  3. CA bank branch in GIFT City that lends gold on lease to jewellers
  4. DA customs warehouse run by the Reserve Bank of India for storing foreign currency

Explanation

IIBX is a bullion exchange set up in GIFT IFSC and regulated by IFSCA, providing trading in bullion and delivery through vaulting arrangements. It is not a SEBI agricultural exchange, a bank, or an RBI warehouse.

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