MUMBAI, Dec 12: In bid to provide uniform rates of Precious metals across the country, the Bombay Bullion Association has decided to expand their presence at ‘Pan’ India.
Top official sources told reporters that the association has grown in its reach, stature and reputation over last 65-years since its creation. Now, with the changing scenario the association wants to make feel its presence in the whole of the Republic of India expansion of its operations from commercial capital of the country. To do this, the association has decided to change its name as ‘India Bullion and Jewellers Association Limited.’
By setting up its offices across the country Precious metal rates would be uniform, this will help the buyer to know actual rate of metals. Quoting of different rates by the traders would be stopped, he added.
He further said it will be divided in five regions-Western, Eastern, Northern, Southern and Central. Each region will have five members committee and registered office would be Mumbai.
The Central Governing board will have 22 directors including two directors from the Reserve Bank of India (RBI).
The Board of Directors of the association has already passed the resolution in this regards in its Extra-Ordinary General body meeting, which was held recently here, he added. (AGENCIES)
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