India’s first OTC bullion trading platform to be launched

Reliance Money, a part of the Reliance Anil Dhirubhai Ambani Group, the Bombay Stock Exchange (BSE) and the Bombay Bullion Association (BBA) have come together to launch India’s first ever over-the-counter bullion trading platform. The platform would enable jewellers to monitor international bullion price fluctuations on real-time basis, and will help in investment in gold coins and bars.

As per the current practice, there is a lack of transparency, uniformity in quality and value-realisation for the jewellers and the retail customers, which this platform intends to rectify. The platform will go live within a month.