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What are the latest guidelines as gold hallmarking becomes mandatory from June 16?

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The mandatory hallmarking of gold jewellery comes into force from Wednesday said the Union Ministry of Consumer Affairs, Food and Public Distribution.

The ministry also issued certain guidelines in this regard based on extensive consultations with stakeholders.

New Guidelines

The ministry in a release said hallmarking will be initially be starting from 256 districts of the country which have assaying marking centres, adding jewellers with annual turnover up to Rs. 40 lac will be exempted from mandatory Hall Marking.

Informing about the decisions taken, the ministry said the export and re-import of jewellery as per Trade Policy of Government of India – Jewellery for international exhibitions, jewellery for government approved B2B domestic exhibitions will be exempted from mandatory Hall Marking.

The ministry further said gold of additional carats 20, 23 and 24 will also be allowed for Hall Marking.

Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau will be exempted from Hall Marking. Jewellers can continue to buy back old gold jewellery without hallmark from consumer, the ministry said.

In order to give adequate time to the manufacturers, wholesalers and retailers of Gold Jewellery, there would be no penalties till August end, the ministry added. Old jewellery can be got hallmarked as it is, if feasible by the jeweller or after melting and making new jewellery, the ministry added.

The government said a committee constituting of representatives of all stake holders, revenue officials and legal experts will be formed to look into the issues that may possibly emerge during the schemes implementation.

Move To Help India Become Leading Global Gold Market Center

Commenting on the decisions taken, Union Minister Piyush Goyal said this will help develop India as a leading global gold market center.

Continuing our Govts endeavour for better protection satisfaction of customers, mandatory hallmarking in 256 districts will be implemented from 16 June 2021. No penalty will be imposed till August 2021. This will help develop India as a leading global gold market center, he tweeted.

What happens to the existing and old jewellery you possess?

The announcement has concerned many who are thinking what will happen to their old jewellery that isn’t hallmarked. The directive is only for sellers and not individual owners. The objective is to enhance the quality and credibility of gold purchased by consumers.

The government is said to be constituting representatives of all stakeholders, revenue officials and legal experts who will look into issues and cocerns that may emerge once the scheme is implemented.

Why Is Hallmarking Required?

Under hallmarking scheme of the Bureau of Indian Standards (BIS), the jewellers are registered for selling hallmarked jewellery and recognise testing and hallmarking centres.

The BIS (Hallmarking) Regulations were implemented with effect from June 14, 2018.

 

 

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ATM charges, Salary, pension, EMI payment rules to change from August 1

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Tomorrow is August 1 and there will be certain changes in the banking transactions from next month. These modifications include that your salary will be credited on Sundays and gazetted holidays. The apex bank, Reserve Bank of India (RBI) has recently announced that the National Automated Clearing House (NACH) will remain functional all days of the week from August 1, 2021.

Operated by the National Payments Corporation of India, NACH helps in facilitating credit transfers such as payment of dividends, interest, salary and pension. It also facilitates the collection of payments pertaining to electricity, gas, telephone, instalments towards loans, investments in mutual funds and insurance premium.

Currently, this facility of crediting salary is operational on working days of banks and therefore, the auto-debits are not allowed on bank holidays, gazetted holidays and even Sundays. “In order to further enhance customer convenience, and to leverage the 24×7 availability of real-time gross settlement (RTGS), NACH which is currently available on bank working days, is proposed to be made available on all days of the week effective from August 1, 2021,” RBI governor Shaktikanta Das had said.

This is aimed at reducing the duration of salary processing which includes salary credits, bill payments, insurance premiums and loan EMIs. Earlier, it was delayed due to bank holidays and this auto-transfer facility has helped the transfer of government subsidies during the present COVID-19 in a timely and transparent manner, RBI said.

Recently, RBI Governor Shaktikanta Das had announced several key financial, economic measures amid the pandemic. Among other measures, he had announced 24×7 availability of RTGS and NACH from August 1, 2021.

 

 

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Got 1 rupee Indian coin? Here’s how it will make you a crorepati

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A 1 rupee Indian coin lying idle in your collection box could pave the way for you to earn crores of rupees just from the comfort of your home, provided you ensure that currency in your possession matches certain criteria. You could earn nearly Rs 10 crore by selling it online. For selling notes and currency of collection you can visit websites that deal with them with a very high premium.

Actually, the coin of Rs 1 that we have mentioned above was auctioned for Rs 10 crore. But this coin is not an ordinary coin. The coin that has been auctioned at such a high premium was printed during British rule and was printed in 1885. Incase you are in possession of such a coin, you too could get Rs 10 crore for it on the online auction.

There are several websites that deal in auctioning of such rare coins. To auction these old coins, you can also visit OLX. You will need to create your login ID and auction your coin. Additionally, you can also auction coins by creating your ID on indiamart.com. You will have to share the photo of your coin for the auction.

Several people are into buying antique goods while several coin collectors are also out there who would go to any length to acquire rare coins.

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Big news for Aadhaar card holders! Now get mobile number updated at your door step

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In what could come as a major relief for Aadhaar card holders, updating their mobile numbers on the 12 digit Unique Identification card is now available at their doorsteps.

Individuals can now update mobile numbers on their Aadhaar cards at their doorstep with the help of a postman. India Post Payments Bank and Unique Identification Authority of India under an arrangement will allow postmen to update mobile numbers of Aadhaar cardholders. The service will be available through a network of 650 India Post Payments Bank, 1.46 lakh postmen and Gramin Dak Sevaks (GDS).

At present, IPPB is only providing mobile update service and will very soon also enable child enrolment service through its network.

Meanwhile, Aadhaar issuing body Unique Identification Authority of India (UIDAI) had a couple of months ago listed out 4 important charges for Aadhaar Services in its fresh tweet.

“New Aadhaar Enrolment and MBU (at 5&15 yrs) are free. Charges for updating Aadhaar are fixed: ₹50 for demographic update & ₹100 for biometric update (with/without demographic update). Call 1947 or write to us at [email protected] if you are asked to pay extra,” UIDAI has tweeted.

Aadhaar Enrolment charges: Free

Mandatory Biometric Update with or without Demographic update: Free

Demographic update (Name, Address, Date of Birth, Gender, Mobile Number, E-mail): Rs 50

Biometric update with or without Demographic update: Rs 100

Other than the above you can also order for Aadhaar PVC Card. It can be ordered online through uidai.gov.in or resident.uidai.gov.in using Aadhaar number, Virtual ID or Enrolment ID. Users can do so by paying a nominal charge of Rs 50. Aadhaar PVC Card is delivered to the resident’s address by speed post.

 

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01 Aug 2021, 1:50 AM (GMT)

Coronavirus Stats

31,654,584 Total Cases
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30,812,873 Recovered Cases

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