Comprehensive gold policy on cards

Banks want to participate in gold options, spot exchange

Ministry of Finance along with Ministry of Commerce, Reserve Bank of India, Ministry of Consumer Affairs and other stakeholders are coming out with a comprehensive gold policy. This was stated by the India Bullion and Jewellers Association (IBJA) in a statement issued on the outcome of its just concluded 14th edition of India International Gold Convention 2017 organised in Goa. 

Policy under preparation, according to participants, includes setting up of gold spot exchange for transparent trading, India good delivery standard that will make gold refund in India as acceptable for good delivery, permitting banks dealing in gold to hedge in