Silver imports surge on Indian bullion exchange after new licensing rules | Today’s news

“If a nominated bank has a quota of 200 kg and one client demands the full 200 kg while 20 others demand 10 kg each, the bank will usually give the full amount to the first buyer,” said an industry official who did not wish to be named. “The exchange model solves this allocation problem, which is why so many importers are switching to IIBX,” the person added.