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    Question

    What restriction is placed on Special Category Clients

    (SCC Banks) when importing gold and silver through the India International Bullion Exchange (IIBX), according to the April 2024 circular?
    A They can only place sell orders Correct Answer Incorrect Answer
    B They cannot trade on behalf of individual clients Correct Answer Incorrect Answer
    C They are allowed to place only buy orders on the IIBX Correct Answer Incorrect Answer
    D They can engage in both buying and selling of bullion Correct Answer Incorrect Answer
    E They must partner with domestic traders for transactions Correct Answer Incorrect Answer

    Solution

    SCC Banks are permitted to place only buy orders for the import of gold and silver through the India International Bullion Exchange (IIBX) , as per the April 2024 circular.

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