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Metals and Commodities

IFSCA (Bullion Market) Regulations, 2025

 

 

IFSCA Circulars

Sr. No. Date Title View
1 03-03-2021 Enabling Dealings by IFSC – Banking Units in Bullion Unallocated Accounts  
2 26-08-2021 Operating Guidelines on Bullion Exchange, Bullion Clearing Corporation, Bullion Depository & Vault Manager  
3 17-09-2021 Bullion Trading Member and Clearing Members in GIFT-IFSC  
4 19-01-2022 Qualified Jewellers importing gold through India International Bullion Exchange  
5 17-06-2022 Clarification on investment in Bullion Depository Receipts (BDR) on India International Bullion Exchange (IFSC) Limited (IIBX) through the Liberalised Remittance Scheme (LRS) route  
6 05-08-2022 Standard Operating Procedure for Qualified Jewellers importing gold through India International Bullion Exchange  
7 18-08-2022 Qualified Suppliers’ for supply of bullion on India International Bullion Exchange (IIBX)  
8 20-12-2022 Monthly Development Report (MDR) for the Bullion Exchange in IFSC  
9 11-01-2023 Tariff Rate Quota (TRQ) holders under the India-UAE CEPA to be deemed as Qualified Jewellers for import of UAEGD Gold through IIBX  
10 27-01-2023 Bullion Trading Members and Clearing Members in IFSC  
11 01-03-2023 Circular prescribing net worth for bullion exchange and bullion clearing corporation  
12 03-03-2023 Guidelines for execution of block deals on bullion exchange  
13 07-08-2023 Bullion Trading Members and Clearing Members in IFSC  
14 11-12-2023 ‘Qualified Suppliers’ for supply of bullion on India International Bullion Exchange  
15 11-12-2023 Import of gold and silver by Qualified Jewellers through India International Bullion Exchange  
16 13-12-2023 Import of UAEGD Gold through IIBX by valid India-UAE TRQ holders  
17 22-02-2024 Bullion Trading Members and Clearing Members in GIFT- IFSC  
18 19-04-2024 Import of gold and silver by Indian Banks through India International Bullion Exchange IFSC Limited (IIBX)  
19 01-05-2024 'Qualified Suppliers’ for supply of bullion on India International Bullion Exchange IFSC Limited (IIBX)  
20 04-05-2024 Import of UAEGD Gold through IIBX by valid India-UAE TRQ holders  
21 08-07-2024 Direct Market Access and Sponsored Access facilities for participants in Bullion Exchange  
22 04-02-2025 Liquidity Enhancement Scheme for Bullion Exchange  
23 29-04-2025 Amendment to the "IFSCA Operating Guidelines on Bullion Exchange, Bullion Clearing Corporation, Bullion Depository and Vault Manager – Dispensation of net-worth requirement for ‘Customers’"  
24 02-06-2025 Amendments to the ITC(HS) codes for the import of Gold and Silver through IIBX  
25 11-09-2025 Market Access through Authorized Persons on Bullion Exchange  
26 22-09-2025 Amendment to the IFSCA Operating Guidelines on Bullion Exchange, Bullion Clearing Corporation, Bullion Depository and Vault Manager – Eligibility Criteria of Bullion Trading Member  
27 10-10-2025 Circular for Import of gold or silver by Qualified Jewellers and TRQ holders through IIBX - consolidation and amendment  

 

 

Government of India Circulars/Notifications/Public Notices

Sr. No. Date Subject View
1 05-01-2022 DGFT Notification on qualified Jewellers dated January 5, 2022  
2 01-02-2022 Circular issued by Ministry of Commerce – SEZ Division permitting Trading of Precious Metals in an IFSC  
3 30-04-2022 Ministry of Finance, Department of Revenue notification No. 22/2022-Customs, on Tariff on gold and silver under India-UAE CEPA and total quota  
4 01-05-2022 DGFT Notification Public Notice No.06/2015-2020 on guidelines for import of gold under India-UAE CEPA  
5 11-05-2022 Notification issued by Ministry of Commerce enabling the treatment of BDR extinguishment summary as invoice for the purpose of clearance of bullion traded on IIBX  
6 06-07-2022 Notification issued by Ministry of Commerce enhancing the remit of IFSC to other vaults / storage facilities in other SEZs/FTWZs  
7 20-07-2022 Ministry of Finance, Department of Revenue Notification No. 43/2022-Customs clarificatory circular adding ‘Qualified Jewellers’  
8 03-08-2022 Ministry of finance, Department of Revenue Notification exempting Long Term Capital Gains Tax (LTCG) on Bullion Depository Receipt (BDR).  
9 29-08-2022 DGFT Public Notice No. 23/2015-2020 adding ‘Qualified Jewellers  
10 09-09-2022 Updated IGCR rules vide Notification No. 74/2022 - Customs (N. T.)  
11 10-09-2022 Ministry of Finance, Department of Revenue Circular No.18 /2022-Customs detailing specified end use which included India-UAE CEPA  
12 06-10-2022 DGFT Public Notice No. 28/2015-2020 enabling the extension of Applications India-UAE CEPA till 10.10.2022  
13 20-10-2022 DGFT Public Notice No.32/2015-2020 amendments of conditions under India-UAE CEPA, post issuance of Notification No. 74/2022 - Customs (N. T.) dated September 9, 2022, and Circular No.18 /2022-Customs dated September 10, 2022  
14 29-12-2022 DGFT Public Notice No.47/2015-2020 amending the TRQ conditions  
15 31-03-2023 Ministry of Finance, Department of Revenue Notification No. 20/2023-Customs on Tariff on gold and silver under India-UAE CEPA  
16 17-04-2023 DGFT Public Notice No.06/2023 amending the TRQ conditions on Jewellery manufacturing and other conditions.  
17 28-04-2023 DGFT Public Notice No.12/2023 amending the procedures for application under Tariff head 7108 under India-UAE CEPA  
18 11-10-2023 DGFT Notification No. 35/2023 enabling silver imports by Qualified Jewellers through IIBX  
19 20-11-2023 DGFT Notification No. 44/2023 enabling the TRQ holders to import gold under India-UAE CEPA through IIBX.  
20 21-12-2023 SOP for transfer of underlying Bullion from GIFT IFSC to other SEZ after trading of BDR on IIBX PUBLIC NOTICE No. 06/2023-24  
21 22-12-2023 Ministry of Finance, Department of Revenue, Notification No. 66/2023-Customs stating that the IGCR rules, 2022 are not applicable if the importer and the TRQ Holder are the same entity.  
22 15-03-2024 Ministry of Finance, Department of Revenue No. 21/2024-Customs on Tariff Rates and Quotas under India-UAE CEPA  

Circulars of RBI

Sr. No. Date Title View
1 25-05-2022 Guidelines on import of gold by Qualified Jewellers as notified by – The International Financial Services Centers Authority (IFSCA)  
2 07-06-2022 Branches of Indian Banks operating in GIFT-IFSC - acting as Professional Clearing Member (PCM) of India International Bullion Exchange IFSC Limited (IIBX)  
3 12-12-2022 Hedging of Gold Price Risk in Overseas Markets  
4 10-11-2023 Guidelines on import of silver by Qualified Jewellers as notified by –The International Financial Services Centres Authority (IFSCA)  
5 31-01-2024 Guidelines on import of gold by Tariff Rate Quota (TRQ) holders under the India-UAE CEPA as notified by–The International Financial Services Centres Authority (IFSCA)  
6 09-02-2024 Participation of Indian Banks on India International Bullion Exchange IFSC Limited (IIBX)  
7 15-04-2024 Hedging of Gold Price Risk in Overseas Markets  

Committee Report

Sr. No. Date Title View
1 01-08-2025 Report of Expert Committee on Positioning GIFT IFSC as Global Commodity Trading Hub  

Forms

Sr. No. Title View
1 Application form for recognition/renewal of recognition of a Bullion Exchange  
2 Application form for recognition/renewal of recognition of a Bullion Clearing Corporation  
3 Application form for registration of Bullion Trading Member/Bullion Clearing Member  
4 Bullion Exchange- MDR  

Frequently Asked Questions

Sr. No. Title View
1 FAQs on International Bullion Exchange  

Statistics

Sr. No. Title View
1 Product wise Trade data of IIBX  

Registered/Notified Entites

Sr. No. Title View
1 Bullion Exchange and Clearing Corporation India International Bullion Exchange IFSC Limited (IIBX)
2 Bullion Depository India International Depository IFSC Limited
3 Vault Manager i. Brinks India Private Limited
ii. Malca-Amit JK Logistics Private Limited
iii. Sequel Logistics Private Limited
4 Qualified Jewellers  
5 Bullion Trading/ Clearing Members  
6 Valid India-UAE CEPA TRQ Holders for FY 2024-25  
7 Valid India-UAE CEPA TRQ Holders for FY 2023-24  

GOLD

Product Wise Summary of Trades on IIBX

Product During FY 2022-23 During FY 2023-24
Traded Value (in USD) Traded Volume (in kg) Traded Value (in USD) Traded Volume (in kg)
LBMA 1 kg Gold 995 6,687,554.31 120.00 4,517,019.99 75.00
LBMA 100 gm Gold 999 2,652,021.53 50.00 0 0
UAE GD 1 kg Gold 995 13,125,952.93 241.00 2,221,241.65 34.00
UAE GD 100 gm Gold 999 0.00 0.00 7,240,588.37 114.80
UAEGD TRǪ 1 kg Gold 995 0.00 0.00 252,908,499.79 3,957.00
UAEGD TRǪ 100 gm Gold 999 0.00 0.00 238,382,167.68 3,747.40
Total 22,465,528.77 411.00 505,269,517.46 7,928.20

SILVER

Product During FY 2023-24
Traded Value (in USD) Traded Volume (in kg)
UAE GD CEPA 20 Kg Silver Grains 999 698,479,428.26 908,800.00
UAE GD 20 Kg Silver Grains 999 0.00 0.00
LBMA 20 Kg Silver Grains 999 0.00 0.00
UAE GD 30 Kg Silver Bar 999 0.00 0.00
LBMA 30 Kg Silver Bar 999 0.00 0.00
Total 698,479,428.26 908,800.00

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