The India International Bullion Exchange (IIBX) on February 27, 2024, issued a circular regarding the net worth & Base Minimum Capital (BMC) requirements for members on-boarded on IIBX under the grandfathered category.
The following has been stated: -
•In reference 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.
URL:https://www.iibx.co.in/download/circulars//20240227-2/Annexure%20-%20A$173fe43f-de78-4287-beb8-43698892d421.pdf
The detailed circular is given in the document attached below.
[Circular No. 20240227-2]
