Regulatory board for gold gets Finance Ministry nod, ball in PMO court

A panel headed by NITI Ayog member Ramesh Chand on spot and futures trading had proposed a separate regulator for spot trading

The finance ministry has given its nod to set up a precious metals’ board to bring clarity on how the new comprehensive gold policy will be implemented. 

The proposed board, to be known as the Precious Metals Board of India, will be the regulatory body for gold, silver, platinum, palladium and other commodities the government notifies.

During a meeting of government officials and industry stakeholders in New Delhi, the plan to set up the board was finalised and a proposal on this will be sent to the Prime Minister’s Office in a day or two, said a source. 

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