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Indian Gold Sector Established 1st Self-Regulatory Body to Boost Consumer Trust

Published on August 10, 2024
Current Context: On 5th August, The Indian gold sector has recently established its first self-regulatory body, known as the Indian Association for Gold Excellence and Standards (IAGES).
Indian Gold Sector Established 1st Self-Regulatory Body to Boost Consumer Trust
  • This initiative, supported by the World Gold Council, aims to enhance consumer confidence and trust in the industry by promoting fair, transparent, and sustainable practices.
  • IAGES will focus on regulatory compliance, establishing a code of conduct, and introducing an audit framework.
  • The organization is expected to become operational by early 2025.
  • This move is seen as a significant step towards ensuring a more trustworthy and robust gold market in India.

Question:

1 What is the name of the first self-regulatory body established for the Indian gold sector?

  • A) Indian Association for Gold Excellence and Standards (IAGES)
  • B) Indian Gold Regulatory Authority (IGRA)
  • C) Gold Council of India (GCI)
  • D) Indian Gold and Silver Council (IGSC)
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