Page 45 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 2 | Issue 07 | July 2022

ACM launches a digital gold investment option
on its platform
Financial services company Asit C. Mehta Financial
Services Ltd (ACMFSL) has launched ‘Chhota
Nivesh Gold' to enable retail investors to invest small
amounts in gold or silver. Investments will be made
through the company’s subsidiary Edgytal Fintech
Services Pvt Ltd. Using the platform; investors can
invest as little as Re 1 in gold or silver. “This unique
feature makes Chhota Nivesh Gold an absolute
democratic investment platform that is flexible for
anyone who wants to begin investing with a small
amount, keep up the investment in a disciplined
manner and build wealth over time.
Source: https://www.livemint.com
Central banks are increasing gold reserves
as inflation, supply chains fear looms
The amount of gold held in reserve by the world’s
central banks has been increasing gradually
over the last decade. During this period, gold
holdings by central banks have grown to almost
35,600 tonnes in early 2022, according to the
International Monetary Fund (IMF). As experts
and central banks expect the demand for gold
to grow, and as most market participants hail
the yellow metal for its safe-haven store of value
abilities, it isn’t easy to make a case against gold.
Source: https://finbold.com

FinMin issues draft SoP for e-commerce jewelry exports
through courier route
The finance ministry has developed a draft SoP for facilitating
e-commerce jewelry exports through courier route, as it looks
to provide a simplified regulatory framework for manufacturers
and traders who want to export jewelry. The CBIC proposes
to amend the Courier Imports and Exports (Electronic
Declaration and Processing) Regulations, 2010, and related
forms and come out with a notification prescribing conditions
for reimporting returned jewelry. The new rules stipulate that
jewelry export through courier mode is permitted only after
receipt of full advance and photos of the export jewelry, product
package/outer covering, product listing on the e-commerce
platform, and Hallmark certificate are uploaded on the customs
system.
Source: https://www.financialexpress.com

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