Bank of Baroda Receives Approval as TCM on IIBX to Boost India’s Bullion Market
Bank of Baroda has been approved as a Trading cum Clearing Member on India International Bullion Exchange, GIFT City. The move aims to enhance liquidity and efficiency in India’s bullion market.
Bank of Baroda has received approval to operate as a Trading cum Clearing Member (TCM) on the India International Bullion Exchange IFSC Ltd. (IIBX), GIFT City, Gujarat. As a TCM, the Bank will execute, clear, and settle trades, thereby enhancing liquidity and efficiency in India’s bullion market.
The Membership event was attended by Shri Lalit Tyagi, Executive Director, Bank of Baroda, Shri Ashok Gautam, MD & CEO, IIBX, and Shri Satya Narayan Patra, DGM & Head, IFSC Banking Unit, Bank of Baroda.
Shri Tyagi emphasized Bank of Baroda's commitment to supporting the transformation of India’s bullion market into a transparent, efficient, and globally competitive platform, helping to realize India’s vision of becoming a key market maker in global bullion trade.
Bank of Baroda’s International Banking Unit (IBU) at GIFT City has built an extensive presence, engaging in syndication, treasury, trade finance, and capital market operations. The IBU is now positioned to become a strategic hub for bullion trading as well.
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