MMTC-PAMP, a leading bullion refiner in India, has launched the country's first organized buyback program for silver coins, bars, and jewelry. This service will initially operate in seven cities: Kolkata, Bhubaneswar, Guwahati, Ludhiana, Ahmedabad, Mumbai, and New Delhi, with plans for a nationwide rollout in the next fiscal year. Customers visiting select exclusive brand stores and purity verification centers can have their silver products melted and tested using XRF technology under security surveillance. Payments will be processed directly to customers' designated bank accounts based on the prevailing market buyback rates. Samit Guha, Managing Director and Chief Executive of MMTC-PAMP, noted that Indian households hold approximately 35,000 tonnes of gold and even more silver, highlighting the increasing demand for silver amidst limited global mine production capacity. The company aims to leverage recycled silver to bridge the supply-demand gap in the market.