BIS Stands for Bureau of Indian standards and Bank for International Settlements.
Bureau of Indian standards
BIS is an Bureau of Indian Standards hallmark that is stamped on precious metals such as Platinum, Gold, Silver etc. It is used to prevent adulteration of precious metals so that all the precious metals can get proof of being as pure as possible.
The BIS symbol is applied to all metals in the form of a code to know how much of the pure metal is in it and how much it is adulterated. Gold in India is measured at 22 Carat and is numbered above it as 966 so this means that it contains 96.6% Pure Gold. Similarly, different marks are applied for different Percent.
This feature of Hall Marking on any metal is very old. Friends, different hallmarks are done in different countries so that the quality of the master can be measured.
It is headquartered at New Delhi and has five regional offices which are located at Chandigarh, Mumbai, Chennai, Kolkata, and Delhi. As of 2015, Smt. Alka Panda is the Director General of BIS.
BIS came into existence on 1 April 1987 by an act of parliament dated 26 November 1986. It is the successor of the Indian Standard Institution (ISI). It works under the aegis of Ministry of Consumer Affairs, Food and Public Distribution of India.
- Standards Formulation
- Product Certification Schemes
- Foreign Manufacturers Certification Scheme
- Hall Marking Scheme
- Laboratory Recognition Scheme
- Product Schemes
- Consumer Related Activities
Benefits of BIS
- Ensures safe reliable quality goods for consumers
- Minimizes health hazards to consumers
- Promotes exports and imports substitutes
- Controls the proliferation of varieties
Bank for International Settlements
The Bank for International Settlements is an international financial institution owned by central banks which “fosters international monetary and financial cooperation and serves as a bank for central banks”. The BIS carries out its work through its meetings. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.