Bullion bank coming up:Comprehensive gold policy on cards

Aims to ensure higher level of transparency

The government is working on a gold policy that will aim at building a higher level of transparency, increase value addition, and protect customers while ensuring the growth of this job-creating sector.

The government, in principle, has decided to set up a gold spot exchange, improve measures for compliance by the jewellery industry, increase value addition in the gold business, implement mandatory hallmarking for jewellery, set up a bullion bank, and prepare good delivery norms and gold standards, among many things it seeks to do.

The NITI Aayog had also proposed a tax on the bullion industry at 12 per