metrology dept move to help people strike gold, literally
A recent move by the legal metrology department will certainly bring a smile to those seeking a gold loan or selling gold.
LMD has asked those who trade in the gold market and banks to obtain an electronic weighing scale that can reach the minimum mg.
At present, the weighing machine of many stores is not displayed until the last number.
A recent move by the legal metrology department will certainly bring a smile to those seeking a gold loan or selling gold.
LMD has asked those who trade in the gold market and banks to obtain an electronic weighing scale that can reach the minimum mg.
At present, the weighing machine of many stores is not displayed until the last number.
According to an LML official, they received several complaints from customers about short selling.
Changed by people in Sarafa market or gold market.
\"For example, if a customer approaches them with 10.
129 gms gold, the weight shown by the machine is only 10 kilograms. 12 gms.
This means 9 mg loss.
The official said that given the current market price of gold, the loss of 9 mg will be around 25 rupees.
The department has asked jewellers and people handling the gold market to replace their weighing machines with high prices.
Precision scale by March 31, 2015.
Even banks are required to comply with the directive because they are also involved in the business of issuing gold loans.
Sanjay Pandey, the police\'s special inspector general and controller of the weight and measurement department, said, \"consumers are in a state of loss due to the use of this weighing machine.
Exercising the power of the Legal Metrology Act, we send a notice to our employees to ensure that the employees of the gold bar business and the bank use the 1 mg weighing scale.
If they do not comply, appropriate action will be taken.
Traders must also have the LMD calibrate the new machine, the official added.
Gold market officials are not happy with LMD\'s move.
\"The new machine will be an expensive thing for us because it will cost about rs25000.
\"The government should reconsider the order,\" said a jeweler . \"
One banker said: \"April is too little time for us to make any immediate arrangements now.
We have hundreds of branches across the state, and it takes time to replace weighing machines.