The summary of the report is as follows:
The government has published an Extraordinary Gazette notification (CG-DL-E-04012021-224171) amending the Registration of Dealers of Gold and Silver Ornaments Rules, 2019. The amendment provides for the registration of dealers of gold and silver ornaments with the Department of Industrial Policy and Promotion (DIPP) instead of the Reserve Bank of India (RBI). The amendment also includes provisions for the registration of dealers of gold and silver ornaments with the DIPP to be mandatory for dealers who deal in gold and silver ornaments worth more than Rs. 50,000. The amendment is effective from January 1, 2021.
