To All Members,

Subject: Networth & Base Minimum Capital (BMC) requirements for members onboarded on IIBX under the grandfathered category

Attention of the members is drawn to IFSCA circular no F. No. 329/IFSCA/Bullion MIIs/2023-24/04 dated February 22, 2024, informing its decision to further extend the 6-month period specified in paragraphs 3 and 4 of the IFSCA circular F.No.329/IFSCA/Bullion MIIs/2021 dated September 17, 2021 by a further period of 6 months, i.e. till July 28, 2024 or till the time IFSCA issues revised guidelines/handbook/circular specifying the requirements of minimum Net worth and Base Minimum Capital for Bullion intermediaries, whichever is earlier.

A copy of the said Circular issued by IFSCA is enclosed as Annexure.

Members are requested to take note of the above.

For and on behalf of India International Bullion Exchange IFSC Limited

Surendra Rashinkar

Chief Regulatory Officer

Contact No. +91 79 6969 7104

Email :   membership@iibx.co.in

Encl. : as above.