Page 48 - Bullion World Issue 10 Volume 05 October 2025

Bullion World | Volume 5 | Issue 10 | October 2025
NEWS

SBI, UTI, Kotak: Why these 3 mutual fund houses have
stopped lump-sum investments in silver ETF FoFs

With silver rising to record highs, Kotak Mutual
Fund, SBI Mutual Fund, and UTI Mutual Fund
have suspended fresh lump sum investments in
their silver exchange traded fund (ETF) fund of
funds (FoFs). Kotak Mutual Fund was the first to
announce a temporary suspension of lump-sum
and switch-in investments in the Kotak Silver
ETF Fund of Funds. The move was in investors’
best interests, given the sharp premium at which
domestic silver is trading.

SBI Mutual Fund and UTI Asset Management Company followed Kotak’s lead, halting fresh lump sum investments
in their silver ETF FoFs from October 13. The suspension is for lump sum and switch-in transactions. Systematic
investment plans (SIPs) and systematic transfer plans (STPs) continue as usual. The fund houses moved to protect
investors from entering at inflated prices caused by temporary demand-supply imbalances in the physical silver
market. Once the market stabilises and premiums normalise, normal lump sum investments are expected to resume.

The decision reflects caution amid an extraordinary silver rally and supply crunch. ETFs trading at a premium is not
the best time to enter. Wait for prices to cool or for NAVs to realign with the market. The long-term story for silver
remains strong but timing the entry is crucial.

Source: Moneycontrol

GJEPC & IIBX Achieve Milestone with First Duty-Free Gold

Import Under Advance Authorisation Scheme

The India International Bullion Exchange (IIBX),
in collaboration with the Gem & Jewellery Export
Promotion Council (GJEPC), has facilitated
India’s first-ever duty-free gold import under the
Directorate General of Foreign Trade’s (DGFT)
Advance Authorisation Scheme. This milestone
supports the government’s vision to streamline
bullion imports via transparent and regulated
channels.

Ashok Gautam, MD & CEO of IIBX, stated, “We thank GJEPC for their confidence. IIBX has successfully enabled
Advance Authorisation License Holder Qualified Jewellers to import bullion, with the first transaction now cleared by
Customs.” A recent circular from the International Financial Services Centres Authority (IFSCA), issued on October
10, 2025, has simplified eligibility norms and compliance requirements, enabling Qualified Jewellers and India-UAE
CEPA TRQ holders to import gold and silver through IIBX.

Jewellers can now import duty-free gold through IIBX, provided it is used for jewellery exports. This move enhances
transparency, traceability, and regulatory compliance, while reducing input costs and improving liquidity for
exporters. It also reinforces IIBX’s role as a trusted bullion marketplace operating from GIFT City’s IFSC.
Source: GJEPC

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