The State-run India Government Mint (IGM), Mumbai, has signed a Memorandum of Understanding (MoU) with Bhabha Atomic Research Centre (BARC) and CSIR-National Physical laboratory (NPl), New Delhi to develop the first Indian Gold Standard-the Bharatiya Nirdeshak Dravya (BND 4201).
Under the MoU, the IGM, Mumbai – which is a pioneer in gold melting, refining and assaying–has been selected as the producer of gold standard with significant research and development inputs from the BARC and CSIR-NPl. Gold reference standard is indispensable in gold and jewellary hall marking and assumes greater importance in Gold Monetization Scheme of Government of India.
“The gold reference being developed under the MoU will be useful for Collection and Purity Testing Centres (CPTC) to certify purity of the gold deposits under the gold monetisation scheme. The BND will be beneficial to consumers and public at large to ensure purity of gold,” a senior official of the IGM said on Thursday. Currently, the gold reference material is imported.
“The development of reference material indigenously will add to the ‘Make in India’ campaign. It will also help save foreign exchange and minimise dependency on countries abroad,” the IGM official said.