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BCCI Panel Discussion Explored Ways To Channel Household Gold Into The Formal Financial System

If India Can Replicate The Convenience Of A Gold Loan While Offering Attractive Incentives, The Country Has The Potential To Mobilize Significant Domestic Gold Resources.

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Bombay Chamber of Commerce & Industry organized a panel discussion  on “Building India’s Gold Monetization Marketplace”, moderated by Neil Borate, Editor-in-Chief of The Federal’s fintech platform The Fynprint. The panel featured Khushboo Ranawat, Regional Chairperson – West, and Member – National Exhibitions, GJEPC,  Richa Agarwal, Chief General Manager, SEBI; Ramakrishnan Padmanabhan, General Manager, Department of Metals & Commodities, IFSCA; Nilesh Lodaya, Chief Business Officer, CDSL; Rajnish Gupta, Partner, Tax and Economic Policy Group, EY India; and Gunveer Singh, Executive Director, Department of Payment & Settlement Systems, RBI.

The discussion explored ways to channel household gold into the formal financial system, strengthen India’s gold monetization ecosystem and reduce dependence on imports. Panelists noted that a significant share of India’s gold holdings consists of investment gold in the form of bars and coins, representing a substantial opportunity for future monetization. If India can replicate the convenience of a gold loan while offering attractive incentives, the country has the potential to mobilize significant domestic gold resources.

The seminar brought together regulators, market infrastructure institutions and industry leaders to discuss policy reforms, electronic gold receipts, tokenization and the development of a modern digital gold ecosystem. Speakers included Praveen Rai, MD & CEO of MCX, former SEBI Executive Director Pramod Rao, and senior officials from SEBI, IFSCA, RBI, CDSL and NSDL.

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Thangamayil Jewellery, Tamil Nadu’s Trusted Jewellery Chain, Receives IAGES Accreditation

IAGES Accreditation Reinforces Thangamayil Jewellery’s Commitment To Ethical Sourcing, Transparency, and Trusted Gold Retailing Across Tamil Nadu.

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Gold buyers in Tamil Nadu can now purchase their favourite precious metal with complete trust and transparency from Thangamayil Jewellery Limited (TMJL), one of the most recognised chains of jewellery stores in the state. TMJL has officially received its IAGES accreditation, further cementing its commitment to serve its consumers in the most ethical, responsible, and sustainable manner.

The Indian Association for Gold Excellence and Standards (IAGES), a Self-Regulatory Organisation established by and for the Indian gold industry, unites retailers across the country with a standard code of conduct to be followed across their entire value chain, allowing them to earn the confidence and trust of their consumers the moment they step into a store. The IAGES accreditation framework spans the entire gold value chain—from Refining and Bullion trading to Manufacturing, Assaying, Hallmarking, Retailing, and Digital Gold Selling, ensuring that every touchpoint meets the highest standards of accountability. Currently, IAGES has its footprints in 200+ cities with 600+ accredited partner outlets of 100+ accredited brands. Consumers can check the accredited partner list on the official IAGES website.

Over the last 26 years, the publicly listed company TMJL has built a reputation for trusted purity and customer-first service across its 65 stores located in the state. The IAGES accreditation further consolidates its commitment to elevating its service and operations to serve consumers most authentically.

Kaushlendra Sinha, CEO, IAGES, said:

Gold holds a deep cultural and financial significance for consumers in South India—the most dominant region for the sector—and informed and aware consumers are increasingly demanding greater accountability from the retailers they trust. We are delighted to have Thangamayil Jewellery join the growing IAGES network, and hope that together we can transform India’s gold buying mindset into a more confident, positive one in the years to come”.

An IAGES accreditation not only benefits the consumer, serving as an assurance that the gold they purchase has been sourced, processed, and sold with complete ethical responsibility, but also the retailer. Among the several benefits an IAGES-accredited retailer enjoys are strengthened market credibility, a competitive advantage over non-accredited peers, and deeper trust among both loyal patrons and new consumers.

Mr. Ba. Ramesh, Joint Managing Director, Thangamayil Jewellery Limited,said:

“At Thangamayil, trust is the foundation of our business, and we are always exploring new ways to build and grow our relationship with our consumers. The IAGES framework has given us a great opportunity to work within a stringent set of standards that reflect our own brand ethos,”

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