{"id":12986,"date":"2024-06-14T15:32:29","date_gmt":"2024-06-14T15:32:29","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=12986"},"modified":"2024-06-14T15:32:29","modified_gmt":"2024-06-14T15:32:29","slug":"kerala-becomes-the-first-state-to-introduce-uniform-gold-price-based-on-bank-rate","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/kerala-becomes-the-first-state-to-introduce-uniform-gold-price-based-on-bank-rate\/","title":{"rendered":"Kerala becomes the First State to Introduce Uniform Gold Price Based on Bank Rate"},"content":{"rendered":"<p>Kerala becomes the first state in India to launch uniform gold price based on the . 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 <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> of the largest gold and diamond retail chains in the country and key members of All Kerala Gold and Silver Merchants <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> Association which sets the board rate for gold.<\/p>\n<p>The gold rate should be uniform across the country based on bank rate. However, in most states, gold is priced 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 to the consumers to purchase gold at a reasonable and transparent price.<\/p>\n<p>According to Mr.Ahammed, there should be a system to determine the price of gold based on the bank rate on a specific day in the country. Bank rate on gold, GST and other taxes including import duty are the same across India. For example, on November 4, 2022, the bank spot rate of 916 (22 carat) gold was Rs. 1,640 per ounce, the bank premium was Rs. 3.50, the import duty was Rs. 6,67,467 per kg and the bank cost per gram of gold was Rs. 5,008. Adding all these, the bank rate of November 4, 2022 amounts to Rs. 4610 per gram of 916 gold. Thanks to the price standardization, jewellers in Kerala now charge the same price as the bank rate for gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala becomes the first state in India to launch uniform gold price based on the . 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 &#8230; <a title=\"Kerala becomes the First State to Introduce Uniform Gold Price Based on Bank Rate\" class=\"read-more\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/kerala-becomes-the-first-state-to-introduce-uniform-gold-price-based-on-bank-rate\/\">Read more <span class=\"screen-reader-text\">Kerala becomes the First State to Introduce Uniform Gold Price Based on Bank Rate<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1099],"tags":[1252],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kerala becomes the First State to Introduce Uniform Gold Price Based on Bank Rate - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/kerala-becomes-the-first-state-to-introduce-uniform-gold-price-based-on-bank-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kerala becomes the First State to Introduce Uniform Gold Price Based on Bank Rate\" \/>\n<meta property=\"og:description\" content=\"Kerala becomes the first state in India to launch uniform gold price based on the . 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 ... 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