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of <h1>State Bank of India to Sell Seized Gold as Consignee Agents; Market-Based Pricing and Assaying Certificate Ensured.</h1> The guidelines outline the procedure for selling seized or confiscated gold, excluding ornaments or jewelry, through the State Bank of India, acting as consignee agents. The gold, converted to .999/.995 purity, will be sold in marketable forms like TT bars or 1kg bars at major centers. Pricing is based on the previous day's market price from national economic dailies, with taxes and expenses deducted from sale proceeds. The Customs Department provides an Assaying Certificate, ensuring gold quality. The Bank handles sales logistics, aiming for optimal pricing and exploring coin marketability, with procedures subject to review.
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