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.
What happened
Bureau of Indian Standards (BIS) · Refiners urge BIS to enforce mandatory silver hallmarking and license silver refineries as substandard bars and coins flood
Key facts
- 7,000 tonnes
- 286 centres
- 1,595 centres
- 800-850 tonnes
- 999 purity
- 50%
Why this matters
Scout acquisition targets among the sub-300 silver hallmarking centres and unlicensed refiners who lack capital to meet incoming BIS standards—consolidation window opens as regulation tightens.