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Government Signals Move to Regulate India’s Fast-Growing Digital Gold Sector

Fintech companies push for clarity as policymakers explore oversight and industry bodies step up to set standards

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India’s digital gold market may soon move out of its grey zone, as the government begins to seriously consider a formal regulatory framework for the sector. With rapid growth over the past year and a half, fintech founders have been in active discussions with the finance ministry, urging the need for clear rules and oversight.

At a recent meeting between startup leaders and senior officials, industry representatives highlighted how quickly digital gold has scaled—and why regulation is now essential. The response from policymakers, according to those present, has been encouraging, though any concrete framework could still take time. A key question remains: who will regulate the sector—the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI).

Currently, digital gold operates without a dedicated legal structure. This has raised concerns among both industry players and regulators, especially as investor participation continues to grow. Leaders in the space believe a clear framework will not only protect consumers but also lend credibility to the category.

To address this, major digital gold market players are working towards forming an industry body—the Digital Precious Metal Council of India. The goal is to introduce uniform standards, ensure fair practices, and engage more effectively with policymakers.

The scale of the sector is already significant. Industry estimates suggest that nearly Rs. 3,000 crore flows into digital gold every month, with total assets under management ranging between Rs.15,000 crore and Rs. 20,000 crore, backed by physical gold stored in secure vaults.

Regulators have also started taking note. SEBI recently cautioned investors that digital gold products fall outside its regulatory scope, meaning they do not come with the same investor protection mechanisms as other gold-linked financial instruments.

As conversations continue, the industry is focused on building trust—highlighting audit systems, physical gold backing, and transparency. While self-regulation may be the first step, most stakeholders agree that formal oversight is inevitable as the sector matures.

News Source: ET Retail

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BrandBuzz

Kalyan Jewellers Reimagines The Wedding Blessing With New ‘Kalyan Bhava’ Campaign

The Campaign Brings A Mystical Vision Of An Indian Wedding To Life, Extending Blessings Beyond The Couple To The Families and Futures Coming Together

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Indian weddings have long been accompanied by traditional blessings for a happy and prosperous life ahead. With its latest brand campaign, Kalyan Jewellers takes this familiar sentiment and elevates it to a larger cultural meaning through ‘Kalyan Bhava’ – a blessing that encompasses everyone whose lives unite through marriage. Seamlessly incorporating the brand’s own name, the tagline positions Kalyan Jewellers as a true bearer of auspicious wishes.

At the heart of the campaign is a core insight: while traditional blessings like ‘Sowbhagyawati Bhava’ or ‘Ayushman Bhava’ focus solely on the bride or groom respectively, a wedding is truly the union of two families, shared values, and intertwined futures. ‘Kalyan Bhava’, which translates to ‘May all that is good be yours’, serves as an all-encompassing wish of prosperity, happiness, and goodness for everyone embarking on this new chapter together.

The 105-second campaign film features Kalyan Jewellers’ brand ambassador Amitabh Bachchan, alongside Sreeleela and Kalyani Priyadarshan. Directed by Akhil Sathyan, known for the blockbuster Sarvam Maya, the film also marks the return of legendary filmmaker and cinematographer Rajiv Menon behind the camera after a considerable interval. The campaign’s evocative music is composed by Justin Prabhakaran.

Set against the backdrop of ancient ruins overgrown with vegetation and hidden deep within a forest, the narrative follows a young girl who discovers a mysterious golden bangle. As a temple bell chimes, an enigmatic figure played by Amitabh Bachchan appears as a mystical guide, signalling her to look through the bangle. Through it, he reveals a magical glimpse of her future wedding day, surrounded by loved ones and filled with music and dance. As the celebrations reach their crescendo, the familiar bell chimes once more, and the mythical figure reappears, bestowing his blessing upon her. The music culminates in a chorus of Kalyan Bhava, a collective blessing for the wedding and all that it brings together.

The film blends nature, fantasy, and mysticism to create a world that is visually distinct from conventional wedding advertising. Speaking about the campaign, Mr. Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, said:

“In our culture, a wedding is as much about heartfelt blessings as it is about celebration. It marks a new beginning for the couple while bringing two families, their traditions, and their shared dreams together. Through our signature ‘Muhurat’ line, Kalyan Jewellers has always been part of these celebrations. With ‘Kalyan Bhava’, we introduce a larger brand thought – extending the wedding blessing beyond the couple to encompass every relation a marriage forms. Since ‘Kalyan’ inherently signifies auspiciousness and prosperity, ‘Kalyan Bhava’ becomes a natural expression of our purpose: a blessing built directly into our name.”

The visual sequences highlight Kalyan Jewellers’ signature Muhurat bridal jewellery collection, showcasing exquisite natural diamonds and gemstone jewellery styled to bring contemporary elegance to a classic Indian wedding look. The multi-media campaign rolls out across platforms during the festive and wedding season, bringing Kalyan Jewellers’ latest wedding jewellery collections into a narrative built around one universal wish: May all that is good be yours!

Campaign film:

Hindi:

Malayalam:

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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