Commodities

BSE ties up with bullion trade bodies

Our Bureau Mumbai | Updated on November 13, 2020

BSE has signed a Memorandum of Understanding with bullion trade and industry associations based in Sangli and Yavatmal in Maharashtra, Amritsar in Punjab and Ahmedabad in Gujarat.

The associations include Sangli Sarafa Association, Yavatmal Sarafa Association, Amritsar Sarafa Association, Shree Choksi Mahajan Association and Gems and Jewellery Trade Council of India. These associations collectively represent close to 2,200 members, engaged in retail sale and trade of bullion.

The MoU will facilitate cooperation between BSE and physical markets represented by these trade bodies for knowledge sharing or exchange of ideas, education and training, events as well as to explore areas of mutual benefits to ensure the best interests of jewellers.

Sameer Patil, CBO, BSE, said the tie-up will bring expertise in creating suitable products, build a deep physical network needed in bullion trade and add transparency in the domestic bullion derivatives markets.

Jitendra Pendurkar, President, Sangli Jilha Saraf Samiti, said the MoU gives lot of scope for expanding digital format in the future and offers a vision for the betterment of our association’s members.

Published on November 13, 2020

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