Question
Branches of an Indian bank in GIFT-IFSC can act as a
____ of India International Bullion Exchange. A.Trading and Clearing Member (TCM) B.Trading Member (TM) C.Professional Clearing Member onlySolution
In February 2024, RBI has allowed: •Branch/subsidiary/joint venture of an Indian bank in GIFT-IFSC to act as a Trading Member (TM)/Trading and Clearing Member (TCM) of India International Bullion Exchange (IIBX), and •Indian banks authorized to import gold/silver to act as Special Category Client1 (SCC) of IIBX The TM/TCM shall execute trades only on behalf of clients (without proprietary trading). It is applicable to the all Scheduled Commercial Banks (other than Regional Rural Banks).
NPV assumes reinvestment of the cash flows at:
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