Silver imports surge at India’s bullion exchange after new licensing rules

“If a nominated bank has a 200 kg quota, and one client asks for the full 200 kg while 20 others ask for 10 kg each, the bank will typically give the entire amount to the first buyer,” said an industry official, who asked not to be named. “The exchange model solves this allocation issue, which is why so many importers are switching to IIBX,” the person added.