The Bombay Bullion Association (BBA) today announced it is changing its name to acquire national character and cater to jewellers at pan-India level.
The apex body of bullion traders in Mumbai has been rechristened as the India Bullion and Jewellers Association Ltd (IBJA) with immediate effect.
The new name reflects efforts of the association, set up in September 1948, to cater to jewellers at pan-India level, the bullion trade body said in a release here.
In an EGM held here last week, BBA President Mohit Kamboj had announced the decision to rename the body in presence of all directors and members.
"With the name change we will also renew our efforts to go pan-India. This endeavour will help us give an all-India level representation to the Government and world," he said.
The association will cater the country in five broad regions - north, south, east, west and central.
Maharashtra will come under central region, which will be headed by IBJA, Mumbai. Head offices of other regions will be decided later, the release said.
The Central Governing Board of IBJA will consist of 22 directors, of which two will be appointed by the Reserve Bank. Of the rest, four directors will be from four different regions and 16 from central.
The association has invited new members to join it and formed seven committees to handle its various functions, the release added.
