MUMBAI (Commodity Online): India’s Multi Commodity Exchange (MCX) has put 12 members of the Bombay Bullion Association on the square-off mode, citing failure in fulfilling certain norms.

According to an exchange official, the MCX has barred 12 member of the Bombay Bullion Association from taking part on the new Gold futures.

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Meanwhile, Bombay Bullion Association, the apex body for Gold jewelers and traders, alleged that the MCX restricted their member in taking part in gold trade is because of its association with rival bourse.

However, the MCX has decided to convene a meeting to resolve the issue with Bombay Bullion Association, the official added.

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