The India International Depository IFSC Limited (IIDI) on December 16, 2025, issued Consultation Paper on the Draft Guidelines for IFSCA empanelled Vault Manager as per Clause 3 & 4 of IFSCA Operating Guidelines.
The objective of this Consultation Paper is to establish minimum prudential, operational and technological standards to ensure the safety, integrity, transparency and efficiency of bullion vaulting operations for the Vault Managers operating under the International Financial Services Centres Authority (IFSCA).
Clause 3 and Clause 4 of the IFSCA Operating Guidelines mandate Vault Managers to put in place adequate systems, controls and procedures for secure custody, tracking and management of bullion. Given the systemic importance of vaulting infrastructure to the bullion ecosystem, there is a need to prescribe detailed, uniform and enforceable standards relating to:
• Physical and technological security of vault premises
• Inventory tracking and reconciliation mechanisms
• Risk management and operational controls
• Internal audit and compliance frameworks
• Data management, disaster recovery and business continuity systems
The proposed guidelines are intended to strengthen governance, reduce operational and systemic risks, enhance investor confidence and align vaulting operations with international best practices.
IIDI invites comments and suggestions from vault managers on the proposed draft guidelines as outlined in this Consultation Paper. Vault Managers are encouraged to provide specific and actionable comments on the entire proposal or on specific sections thereof through email to [email protected] / [email protected] and latest by December 31, 2025 with subject line “Comments on Draft guidelines for Vault Managers - IIDI”.
