What is HUID Number?
Hallmark Unique Identification (HUID) number is a unique 6-digit alphanumeric code consisting of numbers and letters. It is stamped manually on a piece of jewellery at the Assaying & Hallmarking centres. It ensures the purity and fitness of gold via third-party assurance to the customers. Note that a BIS Hallmark has 3 components- the BIS logo, a symbol indicating the article’s purity and fineness and the HUID.
Why is HUID Number in News?
The Union Ministry of Consumer Affairs, Food and Public Distribution recently announced that the sale of gold jewellery and gold artefacts without the HUID number is prohibited in India from April 1. To date, as many as 10.56 crore pieces of gold jewellery articles have been Hallmarked in 2022-23.
Who provides the HUID Number?
The number is stamped at the BIS-certified Assaying and Hallmarking Centre. There are hallmarking centres located all over the country.
What is hallmarking?
Hallmarking is verifying the purity of gold. Gold is too soft. So some metals like copper are added to the gold to make it rigid to wear. The 916 mark on the gold says that the jewellery is made of an alloy that has 91.6% of gold.
What are the hallmarks of gold allowed in India?
There are six different gold hallmarks that are allowed in India by the BIS. They are 14 carats, 18 carats, 20 carats, 22 carats, 23 carats, and 24 carats. 24-carat gold is the purest form. No metals are added to it. 24 carat also means the jewellery has 99.9% of pure gold. The 916 gold is 22-carat gold and it has 91.6% of gold. The 18-carat gold has 75% of gold and 25% of other metals like copper, zinc, etc. The 14-carat gold has 41.7% of gold. There is 9-carat and 10-carat gold in the international market. However, India does not provide hallmarking to those.
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Month: Current Affairs - March, 2023
Category: Economy & Banking Current Affairs