Gold buying alert! Worried about purity while purchasing yellow metal? Modi govt has good news for you
There is some good news for those who buy gold, but are worried about the quality and purity of the yellow metal.
There is some good news for those who buy gold, but are worried about the quality and purity of the yellow metal. PM Narendra Modi-led Central government has notified in the Gazette of India that hallmarking of Gold jewellery and artefacts has been mandatory in the country w.e.f. 15-1-2021. The Modi government in the notification has given a year’s time for the implementation of this mandatory rule.
This information was given in a written reply by the Minister Of State For Ministry Of Consumer Affairs, Food & Public Distribution Danve Raosaheb Dadarao in Lok Sabha.
"Quality Control Order for Mandatory Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020 dated 15-1-2020 has been notified in the Gazette of India vide S.O. No. 205(E) dated 15-01-20 making hallmarking of Gold jewellery and artifacts mandatory in the country w.e.f. 15-1-2021 giving a year’s time for its implementation," an official statement said.
Here is what you as a consumer must know about the new rule, hallmarking and things related to the government's decision about gold:-
-Only three grades namely 14, 18 and 22 carats for gold jewellery and artefacts, as prescribed in Indian Standard IS: 1417: 2016 can be hallmarked.
- As on 25 Dec 2019, 892 Hallmarking and Assaying (A & H) centres throughout India have been recognized by BIS.
- The average number of articles hallmarked per day per centre in the year is nearly 225 only.
- A typical centre can hallmark 500 pieces per shift (or about 1500 pieces per day) with one set of machines. Thus, the average utilization of the capacity of the A&H centres is less than 50 % and therefore, the average utilization of the capacity of the A&H centres is less than 50% and as on date there is no capacity constraint.
- Bureau of Indian Standards organizes regular Awareness Programmes through its various Regional Offices/Branch Offices.
- Many of these awareness programmes are conducted in association with Consumer Organizations.
- These programmes focus on enhancing quality consciousness of consumers by highlighting issues of Standardization, promotion of BIS Standard Mark, Hallmarking of Gold & Silver and educating them on the misuse of BIS Standard mark & Complaint Redressal System for products with BIS Standard Mark.
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