Mandatory Hallmarking of Gold

Hallmarking of Gold

Mandatory Hallmarking of Gold Jewellery is going to come into force from tomorrow, 16th June 2021.

Under Hallmarking scheme of the Bureau of Indian Standards, Jewellers are registered for selling hallmarked jewellery and recognise testing and Hallmarking centres.
BIS (Hallmarking) Regulations, were implemented w.e.f. 14.06.2018. Hallmarking will enable Consumers/Jewellery buyers to make a right choice and save them from any unnecessary confusion while buying gold.
At present, only 30% of Indian Gold Jewellery is hallmarked.
India is the world’s largest importer of gold, with annual imports of 700-800 tonne.

The jewellers have been given one year time to register with the Bureau of Indian Standards (BIS) and clear their stocks if not hallmarked yet.
Hallmarked gold jewellery will be only in three grades – 14-carat, 18-carat and 22-carat instead of current availability of ten grades.
It will contain four marks:

BIS mark,
Purity in carat,
Assay centre’s name and
Jewellers’ identification mark.

The rule is applicable only on sales by retailers and not to consumers. However, it is available for consumers who want to get their old jewellery hallmarked.
Anybody found violating the provision, will have to pay a minimum fine of Rs 1 lakh or 5 times the price of the article.
The government had informed about these hallmarking norms to the World Trade Organisation (WTO), which will help exporters get to know the changes in advance in importing country like India.
Impact of Hallmarking of Gold

The Hallmarking of jewellery/artefacts is required to enhance the credibility of gold Jewellry and Customer satisfaction through third party assurance for the marked purity/fineness of gold , consumer protection.
This step will also help to develop India as a leading gold market centre in the World.
It will also help to get the purity as marked on the ornaments.
It will bring transparency and assure the consumers of quality.
The new system will weed out anomalies and corruption in the system of manufacturing of jewellery.

Source: PIB

Join Our Telegram

Oceanic Anoxic Event 1a and MASS EXTINCTION

Oceanic Anoxic Event 1a and MASS EXTINCTION

25 Dec, 24
SHARE

Oceanic Anoxic Event 1a from the Paris Basin (Environment) Paper-3 PMP OAE 1a refers to a period during the Cretaceous Period (145 million years ago and ended 66 million years ago) when Earth's oceans became depleted of oxygen, causing a significant disruption in marine life. Cause: The event is believed to have been

Viksit Panchayat Karmayogi (Good governance)

26 Dec, 24
SHARE

Viksit Panchayat Karmayogi (Good governance) Governance GS PAPER-2 PMP Dr. Jitendra Singh launched the ‘Viksit Panchayat Karmayogi’ initiative on Good Governance Day, celebrated to mark the 100th birth anniversary of former Prime Minister Atal Bihari Vajpayee. The initiative, which is part of the broader ‘Prashasan Gaon

Major programmes to control Air Pollution

23 Dec, 24
SHARE

Major programmes to control Air Pollution National Clean Air Programme? It was launched by the Ministry of Environment, Forests and Climate Change (MoEFCC) in January 2019. It is the first-ever effort in the country to frame a national framework for air quality management with a time-bound reduction target. The

Air pollution and Air quality Measures in India

21 Dec, 24
SHARE

Air pollution and Air quality Measures in India (Environment) GS Paper-3 P-M-P Air pollution may be defined as the presence of any solid, liquid or gaseous substance including noise and radioactive radiation in the atmosphere in such concentration that may be directly and/or indirectly injurious to humans or other l

Geopolitical Significance of Ports

20 Dec, 24
SHARE

Geopolitical Significance of Ports (IR) Act as geopolitical assets: Ports enhance the projection of strategic reach, which helps strengthen the country’s control over important sea and energy supply routes. E.g. Indian Navy’s staging base at Agalega Islands will enable marine patrols