- Kerala becomes the first state in India to launch uniform gold price based on the bank rate.
- The decision to introduce uniform price on 916 purity 22 carat gold has been taken at a meeting between officials of Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country and key members of All Kerala Gold and Silver Merchants Association which sets the board rate for gold.
- Being a top gold-consuming state in the country, Kerala can set the stage for a countrywide roll-out of uniform gold prices.
- The selling price of gold should be unified everywhere in the country. The gold rate should be uniform across the country based on the bank rates.
- Gold is priced at Rs 150-300 per gram extra over the bank rate. In Kerala, gold used to be sold at different prices on a particular day.
- Uniform gold price based on bank rate offers an opportunity for consumers to purchase gold at a reasonable and transparent price.
Kerala becomes first state to introduce uniform gold price based on bank rate across the state
