The Bombay Bullion Association renamed as India Bullion And Jewellers Association Ltd.
Mumbai, January 6, 2014: The Bombay Bullion Association, today officially announced that it is changing its name to India Bullion and Jewellers Association Ltd with immediate effect. The new name will renew the efforts of the association to cater jewellers at pan India level.
In an EGM held in Mumbai on December 4, 2013, Mohit Kamboj, Bombay Bullion President had announced about renaming The Bombay Bullion Association as India Bullion and Jewellers Association Ltd (IBJA) in presence of all directors and members of the BBA. The new name was registered at the Registrar of India after getting consent from all the directors of the association.
“With the name change we will also renew our efforts to go Pan India. This endeavour will help us give a united all India level representation to the Government and the world,” said Kamboj at the meet. He said that association will cater the country in five broad regions namely North, South, East, West and Central. North region will comprise of Delhi, Punjab, Haryana, Uttar Pradesh, Rajasthan, Uttarakhand, Himachal Pradesh and Jammu & Kashmir. West region will consist of Madhya Pradesh, Goa, Gujarat, Chhattisgarh, Daman & Dui; East will have Assam, Meghalaya, Nagaland, Odisha, West Bengal, Manipur, Bihar, Jharkhand, Tripura, Sikkim, Arunachal Pradesh, Mizoram and Andaman and Nicobar islands. Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Pondicherry and Lakshadweep will come under South while Maharashtra will come under Central region. This region will be headed by BBA Mumbai and centres for other regions will be decided later by the association.
Except for the Central region, all other regions will comprise of a 5 member committee from respective region. From these committee members, one regional head will be elected to represent the regions, rest of members will be known as regional directors of the association. The Central Governing Board will consist of 22 directors out of which two will be appointed by the Reserve Bank of India. Of the rest 20, 4 directors will be from 4 different regions and 16 directors will represent Central region. Among the 22 directors of the board, one will be elected as President and one as Vice-President.
New members, trade associations, counsellors, media partners, exchange members, etc. are invited to enroll their names as directorate for different regions across India. For the same BBA has appointed a panel of 6 members to review the applications and take the decision accordingly. 7 new committees – Events, First-Step Foundation, Legal, Administrative, Manufacturing, Business Development and Wholesale, Retail committee are going to be formed. During the meet, Mr. Kamboj said that he is looking at increasing the members’ base across India to create awareness about the associations activities and deliver services pan-India.
About the Bombay Bullion Association Ltd.:
The Bombay Bullion Association Ltd. was established in September 1948, because the then prevailing circumstances in the market warranted an association with multi-faceted approach, which the association is fulfilling and currently has projections which stretch far beyond the visions of its original conception. As envisaged the Bombay Bullion Association ltd has proved to be an unbiased platform & has been acceptable to all the precious metal trading community in general.
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