Page 37 - Bullion World Volume 03 Issue 07 July 2022
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Bullion World | Volume 2 | Issue 07 | July 2022
the domestic market, especially refiners. Based on the feedback net worth of Rs. 5 Crs. The
from organized retailers. This help received from market participants, applicant must have refined
refineries to establish a chain of BSE issued the “BSE – BIS around 10 tons of gold and/or
custody and produce bars that meet Standard Gold/Silver” - 2020 Refiner 10 tons of silver, during the last
the requirements of commodity Standards for the empanelment of three years.
and stock exchanges. This in Refiners.
The applicant should be
turn lessens the dependency of
The standards were developed by approved by BIS and should
refiners on doré as they are now
BSE in 2020 and are regarded as the have a NABL laboratory
able to deliver bars refined from
benchmark for quality and technical
recycled gold onto the exchange, For detailed guidelines one can refer
specification to produce gold and
in the process benefiting from more BSE’s circular number 20200918-31
silver which will be delivered on the
transparent price discovery due dated 18th September 2020.
Exchange.
to the higher number of refineries Who are the domestic refiners
now able to deliver bars on local A Refinery must satisfy the certain empaneled to give gold delivery
exchanges. Going forward, a minimum criteria to be eligible for against options in goods? How
collective effort is required from to be considered for Empaneled is the response from domestic
both BIS and industry players to Refinery which are as follows: refiners?
ensure that, over next five years, all The refinery must have been
refineries become IGDS compliant, operational for at least 3 years The domestic refiners empanelled
standards are implemented, and include Augmont Enterprises Pvt.
The applicant must have a total Ltd, Parker Precious Metals LLP,
overall trust is enhanced.
net worth of Rs. 30 Crs as set M D Overseas Pvt Ltd, Sovereign
Can you detail what are the out on its latest audited balance
exchange-set eligibility criteria sheet and must submit their Metals Limited, Kundan Care
and requirements for the audited balance sheet for last Products Limited and GGC Gujrat
domestic refiners to give delivery three years. Gold Centre Pvt Ltd.
on the exchange against India In the event the Refiner does
Good Delivery
not meet the net worth criteria
BSE earlier accepted only specified mentioned above, the Refiner
quality standard of LBMA approved should have a minimum tangible
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