Source Name: Kundan Gold Refinery
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Refinery of Kundan Care Products Limited Empanelled with MCX For Good Delivery of GoldKundan Care products is among domestic bullion refiners empanelled under MCX. | |
Delhi, India
Kundan Care Products Ltd., one of the India's largest gold refiners, today proudly announced its empanelment under Multi Commodity Exchange (MCX) for acceptance of MCX Good Delivery Norms for BIS Standard Gold at their platform.
Kundan Gold Bars Accordingly, the Gold Bars refined at our Refinery, shall henceforth also be accepted with those of International repute brands for delivery at MCX in the Gold Mini (100 g) contracts. The demand for inclusion of Indian Produced Bars was long pending even though reputed Indian refineries were meeting the International Standards in their products. This is a right step to recognize Indian products by MCX.
Mr. Vidit Garg, Director, Kundan Group, said, “I am delighted that our refinery has been empaneled by the MCX for the delivery of Gold on its platform. This step of MCX in the direction of ‘Atmanirbhar Bharat’, is a boost to Indian Refineries which are producing products of International Standards. Further, this will build a confidence in the Indians towards Indian produced gold bars. We remain committed to continue to strive for higher and higher quality standards.”
As per Mr. Garg, this step taken by the MCX is a crucial step for the refiners that operate in the Indian refined gold bullion industry.
Mr. Shivanshu Mehta, Head-Bullion, MCX, said, "This move will facilitate the expansion of organized bullion trade in the country and enhance transparency. It is expected to further integrate exchange ecosystems with domestic physical industry." As per Mr. Mehta, the specific facilities of refiners have been chosen after strict financial and technical audits, and more may be added to this list soon.
Currently, gold bars approved only by London Bullion Market Association are deliverable on the exchange. But this move will allow the domestic refiners to trade and deliver Gold on the exchange based on BIS standards. In the beginning, approval of gold bars would start in 100 grams gold derivative contracts.
The Kundan Refinery is India's finest gold refinery that has made its name by offering high standard gold in the Indian Market.
Kundan Group
Kundan Refinery
Awards and Recognitions
Award from Indian Bullion Jeweler Association (IBJA) as “Best Bullion Trader in Gold” for the year 2019. |
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