RAS question
The India International Bullion Exchange (IIBX) is located at which of the following places?
Correct answer: (B) GIFT City, Gandhinagar, Gujarat.
The India International Bullion Exchange is located at GIFT IFSC in Gandhinagar, Gujarat.
Explanation
IIBX’s own official page states that India International Bullion Exchange IFSC Limited is established at GIFT IFSC, Gandhinagar, Gujarat, India, and is regulated by the International Financial Services Centres Authority. That directly rules in GIFT City, Gandhinagar, Gujarat as the location. The PIB release on the launch also places IIBX in GIFT-IFSC and describes it as India’s first International Bullion Exchange. The point of the question is not merely a city name; it is the institutional setting. IIBX belongs to the IFSC ecosystem at GIFT City, where bullion trading, related financial products and regulated market infrastructure are meant to operate within India’s international financial-services framework.
Why the other options are wrong
- (A) Bandra Kurla Complex is a major Mumbai financial district, but the cited IIBX source places the exchange at GIFT IFSC in Gandhinagar, not in Mumbai.
- (C) Dalal Street is associated with Mumbai’s securities-market geography, whereas IIBX is identified by its official page as established at GIFT IFSC, Gandhinagar, Gujarat.
- (D) Connaught Place is in New Delhi, but neither the question’s explanation nor the verified official source links IIBX to Delhi; both point to GIFT IFSC in Gujarat.
Concept
This tests the location and institutional role of new financial-market infrastructure under Science and Technology/current economy themes. RAS repeats such questions because GIFT IFSC and IFSCA-linked platforms connect technology, regulation and India’s financial-sector reforms.