Refiners press BIS for mandatory silver hallmarking as purity crisis hits investment-grade demand
With Indian silver demand running at 800-850 tonnes and substandard bars flooding the market, refiners want BIS to enforce hallmarking and license refineries. MCX, BSE and NSE are readying 999-purity certified silver bars, expanding oversight beyond the 286 hallmarking centres now active versus 1,595 for gold.
Refiners urge BIS to enforce mandatory silver hallmarking and license silver refineries as substandard bars and coins flood Indian market amid surging investment demand. Exchanges MCX, BSE, NSE preparing to launch quality-certified silver bars.
Why this matters
BIS is widening its purity and authenticity remit, after reserving 'diamond' for natural stones and piloting DNA testing for buffalo meat exports. Silver hallmarking would extend that standards push into investment metals.
Retail-brand signals steady at 604 in the last 90 days, with BIS standards-setting a recurring driver.