TN Places Orders for 1.28 Lakh Gold Rings Under Thaai Maaman Scheme

Orders have been placed for the supply of 1,28,499 golden rings to be distributed to children born in government hospitals from June 22 under the 'Thaai Maaman Gold Ring Scheme' (maternal uncle gold ring scheme), according to an official press release issued in Chennai.

The procurement orders have been awarded to two major jewelry firms, Joy Alukkas and Kalyan Jewelers, on a 70:30 allocation basis. Each ring distributed under the welfare initiative will weigh one gram.

The allocation follows a competitive bidding process conducted through the Tamil Nadu Tender portal, which saw participation from 11 companies competing for an overall order of 4,41,667 gold rings.

Joy Alukkas emerged as the lowest bidder after quoting an additional cost of Rs 0.01 over and above the gold price towards expenses including BIS certification and other charges. Kalyan Jewelers subsequently agreed to match the rate with a comparable quotation during the tender process, enabling the distribution of the supply order between the two jewelers.