Mumbai: Bullion merchants and jewellers body IBJA has re-elected Mohit Kamboj as its national president for a five-year term ending in 2021. Kamboj was elected unopposed at the board meeting in Mumbai today, India Bullion and Jewellers Association (IBJA) said in a statement.
IBJA had dissolved its board in the last week of December. Fresh elections were announced thereafter, wherein 20 directors were elected from various categories like bullion merchant, diamond, logistic, NBFC, retailers, manufacturers and nominated agencies.
IBJA’s daily opening and closing gold rates are the benchmark for gold trade and lending against gold in India. The sovereign gold bond issued by the government also follows the IBJA gold rate.