- First Gold Trade as SCC: SBI executed its inaugural gold trade as a Special Category Client (SCC) on the India International Bullion Exchange (IFSC) Ltd).
- Role & Impact: The move enhances efficiency, transparency, and accessibility in bullion imports, especially benefiting MSME jewellers, bullion dealers, and importers.
- Past Milestone: SBI became the first Trading-cum-Clearing (TCM) Member of IIBX in 2024.
- Strategic Focus: The initiative supports GIFT City as a global financial hub and aligns with government efforts to modernize and formalize the bullion trade.
- Chairman Statement: C S Setty emphasized SBI’s pioneering role, aiming to improve liquidity, competitive pricing, and sustainable growth in India’s bullion and jewellery sector.